Great-West Lifeco (TSE:GWO) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Great-West Lifeco shares crossed above their 200-day moving average, reaching C$89.73 and closing at C$89.16, compared with a 200-day average of C$77.25.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of C$93.27. Recent target increases ranged from C$83 to C$95.
• 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, equivalent to a 3.0% annual yield.

Shares of Great-West Lifeco Inc. (TSE:GWO - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$77.25 and traded as high as C$89.73. Great-West Lifeco shares last traded at C$89.16, with a volume of 1,591,298 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GWO shares. BMO Capital Markets increased their price objective on shares of Great-West Lifeco from C$90.00 to C$92.00 and gave the company a "market perform" rating in a research report on Thursday, July 30th. Barclays lifted their target price on shares of Great-West Lifeco from C$86.00 to C$87.00 in a research report on Wednesday, July 29th. Desjardins boosted their target price on shares of Great-West Lifeco from C$93.00 to C$95.00 in a research note on Thursday, July 30th. National Bank Financial increased their price target on Great-West Lifeco from C$93.00 to C$95.00 and gave the company a "sector perform" rating in a report on Wednesday, July 29th. Finally, Scotia increased their price target on Great-West Lifeco from C$78.00 to C$83.00 and gave the company a "sector outperform" rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$93.27.

Great-West Lifeco Stock Performance

The business's fifty day moving average is C$90.92 and its 200-day moving average is C$77.25. The company has a quick ratio of 22.18, a current ratio of 6.07 and a debt-to-equity ratio of 28.63. The company has a market cap of C$79.82 billion, a PE ratio of 18.42, a P/E/G ratio of 2.26 and a beta of 0.68.

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

Great-West Lifeco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 2nd. Great-West Lifeco's dividend payout ratio (DPR) is currently 52.89%.

Insiders Place Their Bets

In related news, Director Edmund Francis Murphy sold 40,000 shares of Great-West Lifeco 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 transaction, the director directly owned 8,784 shares in the company, valued at approximately C$757,180.80. The trade was a 81.99% decrease in their ownership of the stock. Also, insider Jean-Francois Poulin sold 20,000 shares of Great-West Lifeco 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 transaction, the insider owned 160 shares in the company, valued at C$14,328. This trade represents a 99.21% decrease in their ownership of the stock. 70.70% of the stock is currently owned by company insiders.

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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