Great-West Lifeco (TSE:GWO) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Great-West Lifeco's stock price has surpassed its 200-day moving average, indicating a potentially upward trend, with shares trading at C$54.49 following a high of C$54.69.
• Recent analyst reports show varied target price adjustments, with CIBC lowering its target to C$57.00 while Scotiabank raised theirs to C$61.00, reflecting differing outlooks on the company's performance.
• The company announced a quarterly dividend of $0.61 with a payout ratio of 50.79%, showcasing its financial health and commitment to returning value to shareholders.

Great-West Lifeco Inc. (TSE:GWO - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$52.19 and traded as high as C$54.69. Great-West Lifeco shares last traded at C$54.49, with a volume of 915,809 shares trading hands.

Wall Street Analysts Forecast Growth

GWO has been the topic of a number of analyst reports. National Bankshares cut their price target on Great-West Lifeco from C$53.00 to C$52.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Scotiabank raised their price target on Great-West Lifeco from C$59.00 to C$61.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Desjardins raised their price target on Great-West Lifeco from C$52.00 to C$55.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. BMO Capital Markets raised their price target on Great-West Lifeco from C$55.00 to C$56.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Finally, CIBC cut their price target on Great-West Lifeco from C$60.00 to C$57.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$56.67.

Great-West Lifeco Trading Up 0.2%

The company has a 50 day moving average price of C$52.19 and a 200 day moving average price of C$52.37. The firm has a market cap of C$51.42 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84.

Great-West Lifeco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.44 dividend on an annualized basis and a yield of 4.4%. Great-West Lifeco's dividend payout ratio is presently 50.79%.

Great-West Lifeco announced that its board has initiated a share repurchase plan on Tuesday, August 5th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Insider Transactions at Great-West Lifeco

In related news, Senior Officer David Martin Harney sold 20,700 shares of the company's stock in a transaction that occurred on Monday, May 26th. The stock was sold at an average price of C$51.85, for a total value of C$1,073,263.95. Insiders own 70.70% of the company's stock.

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.