Great-West Lifeco (TSE:GWO) Price Target Raised to C$95.00 at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Great-West Lifeco to C$95.00 from C$81.00, implying about 2.65% upside from the current share price.
• Other analysts have also turned more bullish, with several firms lifting targets in early May; the stock now carries a consensus rating of “Moderate Buy” and an average target price of C$80.73.
• Great-West Lifeco shares traded up to C$92.55, near their 12-month high of C$92.97, after the company reported quarterly EPS of C$1.37 and revenue of C$8.37 billion.

Great-West Lifeco (TSE:GWO - Get Free Report) had its price objective increased by investment analysts at Canadian Imperial Bank of Commerce from C$81.00 to C$95.00 in a report released on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price objective would suggest a potential upside of 2.65% from the company's current price.

GWO has been the subject of several other reports. Scotia lifted their price target on Great-West Lifeco from C$78.00 to C$83.00 and gave the company a "sector outperform" rating in a research report on Friday, May 8th. Royal Bank Of Canada increased their price objective on Great-West Lifeco from C$64.00 to C$77.00 in a report on Friday, May 8th. Jefferies Financial Group raised their target price on Great-West Lifeco from C$70.00 to C$83.00 in a research note on Friday, May 1st. National Bank Financial lifted their target price on Great-West Lifeco from C$65.00 to C$73.00 and gave the company a "sector perform" rating in a report on Friday, May 8th. Finally, Barclays upped their price target on Great-West Lifeco from C$70.00 to C$73.00 in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$80.73.

Great-West Lifeco Stock Performance

GWO traded up C$1.30 on Wednesday, hitting C$92.55. The company's stock had a trading volume of 309,583 shares, compared to its average volume of 1,679,431. The company's 50 day simple moving average is C$83.70 and its 200-day simple moving average is C$72.03. The firm has a market cap of C$83.11 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. Great-West Lifeco has a 12 month low of C$51.40 and a 12 month high of C$92.97. The company has a quick ratio of 22.18, a current ratio of 6.57 and a debt-to-equity ratio of 29.59.

Great-West Lifeco (TSE:GWO - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported C$1.37 earnings per share (EPS) for the quarter. The business had revenue of C$8.37 billion for the quarter. Great-West Lifeco had a net margin of 12.86% and a return on equity of 15.17%. Analysts forecast that Great-West Lifeco will post 4.4525194 EPS for the current year.

Insider Buying and Selling

In related news, insider Jean-Francois Poulin sold 20,000 shares of the business's stock in a transaction dated Friday, June 19th. The stock was sold at an average price of C$89.55, for a total transaction of C$1,791,000.00. Following the completion of the transaction, the insider directly owned 160 shares in the company, valued at C$14,328. The trade was a 99.21% decrease in their ownership of the stock. Also, Director Edmund Francis Murphy sold 40,000 shares of the company's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of C$86.20, for a total value of C$3,448,000.00. Following the completion of the transaction, the director owned 8,784 shares in the company, valued at C$757,180.80. This represents a 81.99% decrease in their ownership of the stock. Over the last quarter, insiders have sold 119,200 shares of company stock worth $9,821,888. Corporate 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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