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

Key Points

• Great-West Lifeco hit a new 52-week high after TD raised its price target to C$80 and kept a buy rating, with shares trading as high as C$75.39 (last C$74.52) on volume of 60,591.
• Several analysts raised targets and ratings, leaving an average consensus of “Moderate Buy” and a consensus price target of C$72.36 (1 Strong Buy, 6 Buy, 4 Hold).
• The company increased its quarterly dividend to $0.67 (annualized C$2.68, ~3.5% yield) and reported an insider sale of 46,413 shares while insiders own about 70.70% of the stock.

Great-West Lifeco Inc. (TSE:GWO - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday after TD raised their price target on the stock from C$73.00 to C$80.00. TD currently has a buy rating on the stock. Great-West Lifeco traded as high as C$75.39 and last traded at C$74.52, with a volume of 60591 shares. The stock had previously closed at C$72.86.

A number of other equities research analysts have also issued reports on the stock. Canadian Imperial Bank of Commerce raised their price target on shares of Great-West Lifeco from C$67.00 to C$73.00 and gave the stock an "outperform" rating in a report on Thursday, January 8th. TD Securities increased their target price on shares of Great-West Lifeco from C$70.00 to C$73.00 in a report on Wednesday, January 14th. Scotiabank raised their target price on Great-West Lifeco from C$68.00 to C$70.00 and gave the stock an "outperform" rating in a research note on Thursday, February 5th. Desjardins upped their price target on Great-West Lifeco from C$68.00 to C$71.00 and gave the company a "hold" rating in a research report on Friday, April 17th. Finally, Royal Bank Of Canada lifted their price objective on Great-West Lifeco from C$60.00 to C$64.00 and gave the stock a "sector perform" rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Great-West Lifeco has an average rating of "Moderate Buy" and a consensus price target of C$72.36.

Insider Buying and Selling

In other Great-West Lifeco news, insider L.P. Great-West Lifeco U.S. Holdings sold 46,413 shares of Great-West Lifeco stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of C$63.46, for a total transaction of C$2,945,368.98. 70.70% of the stock is owned by company insiders.

Great-West Lifeco Stock Up 4.5%

The company has a market capitalization of C$69.01 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 2.26 and a beta of 0.59. The company has a 50-day moving average of C$66.57 and a two-hundred day moving average of C$64.73. The company has a quick ratio of 22.18, a current ratio of 5.80 and a debt-to-equity ratio of 44.93.

Great-West Lifeco (TSE:GWO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported C$1.36 earnings per share (EPS) for the quarter. Great-West Lifeco had a return on equity of 13.98% and a net margin of 10.96%.The business had revenue of C$8.34 billion during the quarter. On average, research analysts predict that Great-West Lifeco Inc. will post 4.4525194 EPS for the current year.

Great-West Lifeco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This is an increase from Great-West Lifeco's previous quarterly dividend of $0.61. This represents a $2.68 annualized dividend and a yield of 3.5%. Great-West Lifeco's payout ratio is presently 57.28%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.