Great-West Lifeco (TSE:GWO) Reaches New 52-Week Low - Here's What Happened

Key Points

• Great-West Lifeco shares reached a new 52-week low, trading as low as C$22.35 on heavy volume before last trading at C$92.26, below the prior close of C$92.82.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of C$93.27; recent targets range from C$87 to C$106.
• The company reported quarterly EPS of C$1.42 on C$8.35 billion in revenue and announced a quarterly dividend of C$0.67, or C$2.68 annually, yielding approximately 2.9%.

Great-West Lifeco Inc. (TSE:GWO - Get Free Report) hit a new 52-week low during trading on Thursday. The company traded as low as C$22.35 and last traded at C$92.26, with a volume of 1409883 shares changing hands. The stock had previously closed at C$92.82.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GWO shares. 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. Barclays raised their price target on shares of Great-West Lifeco from C$86.00 to C$87.00 in a research report on Wednesday, July 29th. BMO Capital Markets lifted their price objective on shares of Great-West Lifeco from C$90.00 to C$92.00 and gave the stock a "market perform" rating in a research note on Thursday, July 30th. Royal Bank Of Canada boosted their price objective on shares of Great-West Lifeco from C$77.00 to C$91.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Finally, Desjardins increased their target price on shares of Great-West Lifeco from C$93.00 to C$95.00 in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$93.27.

Great-West Lifeco Price Performance

The company has a debt-to-equity ratio of 28.63, a current ratio of 6.07 and a quick ratio of 22.18. The stock has a market cap of C$82.59 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 2.26 and a beta of 0.61. The business's 50-day simple moving average is C$91.58 and its two-hundred day simple moving average is C$81.66.

Great-West Lifeco (TSE:GWO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C$1.42 earnings per share (EPS) for the quarter. Great-West Lifeco had a net margin of 12.49% and a return on equity of 15.48%. The company had revenue of C$8.35 billion during the quarter. Research analysts expect that Great-West Lifeco Inc. will post 4.4525194 earnings per share for the current year.

Great-West Lifeco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Great-West Lifeco's dividend payout ratio is presently 52.89%.

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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