Great-West Lifeco (TSE:GWO) Price Target Raised to C$92.00 at BMO Capital Markets

Key Points

• BMO Capital Markets raised Great-West Lifeco’s price target to C$92 from C$90 while maintaining a “market perform” rating, implying only 0.16% upside from the prior close.
• Several analysts also increased their targets, and the stock carries a consensus “Moderate Buy” rating with an average price target of C$93.27.
• Great-West Lifeco shares rose 1.6% to C$91.85, near their 52-week high, after the company reported quarterly earnings of C$1.42 per share and C$8.35 billion in revenue.

Great-West Lifeco (TSE:GWO - Get Free Report) had its price objective increased by stock analysts at BMO Capital Markets from C$90.00 to C$92.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a "market perform" rating on the stock. BMO Capital Markets' price objective would suggest a potential upside of 0.16% from the company's previous close.

GWO has been the topic of a number of other research reports. Scotiabank lifted their target price on Great-West Lifeco from C$95.00 to C$100.00 and gave the stock a "sector outperform" rating in a research report on Thursday. Canadian Imperial Bank of Commerce raised their target price on shares of Great-West Lifeco from C$95.00 to C$97.00 in a research report on Thursday. Barclays lifted their target price on shares of Great-West Lifeco from C$86.00 to C$87.00 in a report on Wednesday. National Bank Financial increased their price target on shares of Great-West Lifeco from C$93.00 to C$95.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Finally, Royal Bank Of Canada raised their price objective on shares of Great-West Lifeco from C$64.00 to C$77.00 in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$93.27.

Great-West Lifeco Stock Up 1.6%

Shares of TSE GWO traded up C$1.42 during mid-day trading on Thursday, reaching C$91.85. The company had a trading volume of 353,102 shares, compared to its average volume of 1,620,427. The company has a current ratio of 6.57, a quick ratio of 22.18 and a debt-to-equity ratio of 29.59. The firm has a 50 day simple moving average of C$87.08 and a two-hundred day simple moving average of C$73.92. The stock has a market cap of C$82.48 billion, a P/E ratio of 19.75, a PEG ratio of 2.26 and a beta of 0.67. Great-West Lifeco has a 52-week low of C$51.60 and a 52-week high of C$93.69.

Great-West Lifeco (TSE:GWO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C$1.42 earnings per share for the quarter. Great-West Lifeco had a net margin of 12.86% and a return on equity of 15.17%. The firm had revenue of C$8.35 billion during the quarter. Sell-side analysts predict that Great-West Lifeco will post 4.4525194 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jean-Francois Poulin sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of C$89.55, for a total value of C$1,791,000.00. Following the completion of the sale, the insider directly owned 160 shares of the company's stock, valued at C$14,328. This trade represents a 99.21% decrease in their position. Also, Director Mei Dong sold 39,400 shares of Great-West Lifeco stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$76.33, for a total value of C$3,007,402.00. Following the completion of the sale, the director owned 2,721 shares in the company, valued at approximately C$207,693.93. This trade represents a 93.54% decrease in their ownership of the stock. In the last 90 days, insiders have sold 119,200 shares of company stock worth $9,821,888. Company insiders own 70.70% of the company's stock.

About Great-West Lifeco

Great-West Lifeco is one of the three big Canadian life insurance firms. With just under half of the firm's profit and revenue in Canada, Great-West also operates in the U.S. and Europe. In Canada, Great-West provides both individual and group insurance. In the United States, Great-West operates Putnam Investments and defined-contribution recordkeeping firm Empower Retirement. In 2020, Great-West announced it would acquire Personal Capital and MassMutual's recordkeeping business. In Europe, Great-West offers life insurance, annuities, and reinsurance primarily in the U.K., Ireland, and Germany.

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