Great-West Lifeco (TSE:GWO) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Great-West Lifeco's share price has surpassed its 200-day moving average, indicating a potential bullish trend, with the stock last trading at C$56.32.
• Analyst reports show a consensus rating of "Moderate Buy" with a target price of C$56.67, reflecting optimism from several firms increasing their price targets.
• The company declared a quarterly dividend of $0.61 per share, representing an annual yield of 4.3%, and has a share repurchase program suggesting management believes the stock is undervalued.

Great-West Lifeco Inc. (TSE:GWO - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$52.81 and traded as high as C$56.49. Great-West Lifeco shares last traded at C$56.32, with a volume of 919,713 shares traded.

Analyst Upgrades and Downgrades

GWO has been the subject of several analyst reports. Scotiabank boosted their target price on Great-West Lifeco from C$59.00 to C$61.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Barclays boosted their target price on Great-West Lifeco from C$56.00 to C$57.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. BMO Capital Markets lifted their price objective on 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, Desjardins lifted their price objective on 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. One research 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$56.67.

Great-West Lifeco Trading Down 0.3%

The stock has a market cap of C$52.46 billion, a P/E ratio of 14.12, a PEG ratio of 2.26 and a beta of 0.68. The company has a 50 day simple moving average of C$53.99 and a 200 day simple moving average of C$52.81.

Great-West Lifeco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were paid a dividend of $0.61 per share. The ex-dividend date was Friday, August 29th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.3%. Great-West Lifeco's dividend payout ratio is currently 58.40%.

Great-West Lifeco announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership 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.

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