National Bank Financial Forecasts Strong Price Appreciation for Great-West Lifeco (TSE:GWO) Stock

Key Points

• National Bank Financial raised its price target on Great-West Lifeco from C$65 to C$73, while keeping a sector perform rating. The new target still implies slight downside from the previous close.
• Several other analysts also turned more positive, including TD and RBC, pushing the consensus target to C$77.18 with a Moderate Buy rating overall.
• The stock traded near C$76.26 on Friday, close to its 52-week high of C$77.04, after the company reported quarterly EPS of C$1.37 and revenue of C$8.37 billion.

Great-West Lifeco (TSE:GWO - Get Free Report) had its price target lifted by research analysts at National Bank Financial from C$65.00 to C$73.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's price objective points to a potential downside of 4.27% from the company's previous close.

Other equities analysts have also issued reports about the company. Scotia boosted their price target on Great-West Lifeco from C$71.00 to C$78.00 in a research report on Wednesday, April 29th. TD boosted their target price on shares of Great-West Lifeco from C$73.00 to C$80.00 and gave the stock a "buy" rating in a research report on Thursday. Desjardins raised their price target on shares of Great-West Lifeco from C$68.00 to C$71.00 and gave the company a "hold" rating in a report on Friday, April 17th. TD Securities lifted their price target on shares of Great-West Lifeco from C$70.00 to C$73.00 in a research note on Wednesday, January 14th. Finally, Royal Bank Of Canada raised their price objective on Great-West Lifeco from C$64.00 to C$77.00 in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Great-West Lifeco currently has a consensus rating of "Moderate Buy" and a consensus target price of C$77.18.

Great-West Lifeco Trading Down 0.1%

TSE:GWO traded down C$0.10 during trading hours on Friday, reaching C$76.26. 504,991 shares of the company were exchanged, compared to its average volume of 1,655,716. The firm has a market cap of C$69.12 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.26 and a beta of 0.59. The stock has a 50 day simple moving average of C$66.82 and a 200 day simple moving average of C$64.86. Great-West Lifeco has a 52-week low of C$49.71 and a 52-week high of C$77.04. The company has a debt-to-equity ratio of 44.93, a current ratio of 5.80 and a quick ratio of 22.18.

Great-West Lifeco (TSE:GWO - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.37 EPS for the quarter. The business had revenue of C$8.37 billion during the quarter. Great-West Lifeco had a return on equity of 13.98% and a net margin of 10.96%. As a group, analysts predict that Great-West Lifeco will post 4.4525194 EPS for the current year.

Insider Buying and Selling at Great-West Lifeco

In related news, insider L.P. Great-West Lifeco U.S. Holdings sold 46,413 shares of the firm's 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 value of C$2,945,368.98. Insiders own 70.70% of the company's stock.

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.

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