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

Key Points

• Great-West Lifeco shares crossed above their 200-day moving average, trading as high as C$92.54 and last changing hands at C$92.48, up 1.0%.
• Analysts raised several price targets, with a consensus “Moderate Buy” rating and average target of C$93.27; TD set the highest target at C$106.
• The company reported quarterly EPS of C$1.42 on C$8.35 billion in revenue and maintains a quarterly dividend of C$0.67 per share, equivalent to a 2.9% annual yield.

Great-West Lifeco Inc. (TSE:GWO - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$76.06 and traded as high as C$92.54. Great-West Lifeco shares last traded at C$92.48, with a volume of 1,224,311 shares.

Analysts Set New Price Targets

GWO has been the subject of a number of research reports. TD boosted their target price on shares of Great-West Lifeco from C$98.00 to C$106.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Scotia increased their price target on Great-West Lifeco from C$78.00 to C$83.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 8th. BMO Capital Markets lifted their price objective on Great-West Lifeco from C$90.00 to C$92.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce boosted their price objective on Great-West Lifeco from C$95.00 to C$97.00 in a report on Thursday, July 30th. Finally, Scotiabank upped 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 note on Thursday, July 30th. 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$93.27.

Great-West Lifeco Stock Up 1.0%

The company has a market cap of C$82.79 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 2.26 and a beta of 0.68. The business has a fifty day moving average of C$90.02 and a two-hundred day moving average of C$76.06. The company has a current ratio of 6.07, a quick ratio of 22.18 and a debt-to-equity ratio of 28.63.

Great-West Lifeco (TSE:GWO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported C$1.42 EPS for the quarter. The company had revenue of C$8.35 billion for the quarter. Great-West Lifeco had a return on equity of 15.48% and a net margin of 12.49%. As a group, equities analysts anticipate that Great-West Lifeco Inc. will post 4.4525194 EPS for the current fiscal year.

Great-West Lifeco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.9%. Great-West Lifeco's dividend payout ratio (DPR) is 52.89%.

Insiders Place Their Bets

In related news, insider Jean-Francois Poulin sold 20,000 shares of the business's stock in a transaction on Friday, June 19th. The shares were 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 owned 160 shares of the company's stock, valued at approximately C$14,328. The trade was a 99.21% decrease in their position. Also, Director Edmund Francis Murphy sold 40,000 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of C$86.20, for a total transaction of C$3,448,000.00. Following the completion of the sale, the director directly owned 8,784 shares of the company's stock, valued at approximately C$757,180.80. The trade was a 81.99% decrease in their position. Insiders sold a total of 79,800 shares of company stock worth $6,814,486 in the last three months. 70.70% of the stock is owned by corporate insiders.

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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