Great-West Lifeco (TSE:GWO) Sets New 12-Month High Following Analyst Upgrade

Key Points

• Great-West Lifeco shares hit a new 52-week high after Scotiabank raised its price target from C$83 to C$95 and kept a sector outperform rating. The stock traded as high as C$92.93 on the day.
• Other analysts have also turned more positive, with several firms raising their price targets and the consensus rating now sitting at Moderate Buy. The average target price is C$80.73, below the current trading level.
• The company also recently paid a quarterly dividend of C$0.67, equal to an annualized yield of 2.9%. Great-West Lifeco reported C$1.37 in quarterly EPS and C$8.37 billion in revenue in its latest earnings release.

Great-West Lifeco Inc. (TSE:GWO - Get Free Report) shares reached a new 52-week high on Wednesday after Scotiabank raised their price target on the stock from C$83.00 to C$95.00. Scotiabank currently has a sector outperform rating on the stock. Great-West Lifeco traded as high as C$92.93 and last traded at C$92.58, with a volume of 273469 shares traded. The stock had previously closed at C$91.25.

Several other brokerages also recently commented on GWO. Barclays upped their target price on Great-West Lifeco from C$70.00 to C$73.00 in a report on Thursday, May 7th. Jefferies Financial Group boosted their price objective on Great-West Lifeco from C$70.00 to C$83.00 in a report on Friday, May 1st. TD upped their price objective on shares of Great-West Lifeco from C$73.00 to C$80.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Desjardins raised their target price on shares of Great-West Lifeco from C$71.00 to C$80.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Finally, BMO Capital Markets lifted their target price on shares of Great-West Lifeco from C$70.00 to C$76.00 in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$80.73.

Insider Activity

In other news, Director Mei Dong sold 39,400 shares of the firm's stock in a transaction on Monday, May 11th. The stock was 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 of the company's stock, valued at C$207,693.93. This trade represents a 93.54% decrease in their ownership of the stock. Also, insider Jean-Francois Poulin sold 20,000 shares of the firm's stock in a transaction 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 approximately C$14,328. This trade represents a 99.21% decrease in their position. Insiders sold 119,200 shares of company stock worth $9,821,888 over the last quarter. Corporate insiders own 70.70% of the company's stock.

Great-West Lifeco Trading Up 1.4%

The company has a debt-to-equity ratio of 29.59, a quick ratio of 22.18 and a current ratio of 6.57. The company has a 50 day simple moving average of C$83.70 and a two-hundred day simple moving average of C$72.03. The company has a market cap of C$83.11 billion, a PE ratio of 19.90, a PEG ratio of 2.26 and a beta of 0.67.

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 for the quarter. The company had revenue of C$8.37 billion for the quarter. Great-West Lifeco had a return on equity of 15.17% and a net margin of 12.86%. Sell-side analysts forecast that Great-West Lifeco Inc. will post 4.4525194 EPS for the current year.

Great-West Lifeco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, June 2nd. Great-West Lifeco's dividend payout ratio is currently 53.76%.

Great-West Lifeco Company Profile

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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