Great-West Lifeco (TSE:GWO) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Great-West Lifeco's shares have recently surpassed their 200-day moving average, trading at C$54.63 with significant volume, indicating potential upward momentum.
• Several analysts have raised their price targets for Great-West Lifeco, with a consensus price target of C$56.67 and a rating of "Moderate Buy," reflecting a bullish outlook.
• The company declared a quarterly dividend of $0.61 per share, representing a 4.5% dividend yield, with plans for a share buyback, signaling confidence in its valuation.

Shares of Great-West Lifeco Inc. (TSE:GWO - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$52.62 and traded as high as C$54.83. Great-West Lifeco shares last traded at C$54.63, with a volume of 1,570,901 shares trading hands.

Analysts Set New Price Targets

A number of analysts have commented on GWO shares. Desjardins increased their price objective on shares of Great-West Lifeco from C$52.00 to C$55.00 and gave the company a "hold" rating in a report on Thursday, August 7th. Scotiabank increased their price objective on shares of Great-West Lifeco from C$59.00 to C$61.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. BMO Capital Markets increased their price objective on shares of Great-West Lifeco from C$55.00 to C$56.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. Finally, Barclays increased their price objective on shares of Great-West Lifeco from C$56.00 to C$57.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Great-West Lifeco currently has a consensus rating of "Moderate Buy" and a consensus target price of C$56.67.

Great-West Lifeco Stock Performance

The stock has a market cap of C$51.09 billion, a PE ratio of 13.75, a PEG ratio of 2.26 and a beta of 0.68. The stock's 50-day moving average is C$53.33 and its two-hundred day moving average is C$52.65.

Great-West Lifeco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.4%. Great-West Lifeco's dividend payout ratio (DPR) is presently 58.40%.

Great-West Lifeco declared that its board has authorized a share buyback program on Tuesday, August 5th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

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.