Great-West Lifeco (TSE:GWO) Stock Breaks Above 200-Day Moving Average - Here's Why

Key Points

• Great-West Lifeco shares rose above their 200-day moving average, reaching C$87.89 and last trading at C$87.55, compared with a 200-day average of C$83.77.
• Analysts have raised several price targets, including TD’s increase to C$106 and Scotiabank’s to C$100. The stock carries a consensus “Moderate Buy” rating and a C$93.27 price target.
• 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 an annualized C$2.68 payout and a 3.1% yield.

Great-West Lifeco Inc. (TSE:GWO - Get Free Report) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$83.77 and traded as high as C$87.89. Great-West Lifeco shares last traded at C$87.55, with a volume of 680,445 shares changing hands.

Wall Street Analysts Forecast Growth

GWO has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce increased their target price on Great-West Lifeco from C$95.00 to C$97.00 in a research report on Thursday, July 30th. Scotiabank upped their price target on shares of Great-West Lifeco from C$95.00 to C$100.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 30th. TD upped their target price on Great-West Lifeco from C$98.00 to C$106.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. National Bank Financial increased their price objective on shares of Great-West Lifeco from C$93.00 to C$95.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 29th. Finally, Barclays lifted their target price on Great-West Lifeco from C$86.00 to C$87.00 in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$93.27.

Great-West Lifeco Stock Down 0.0%

The stock has a market cap of C$78.37 billion, a P/E ratio of 18.09, a PEG ratio of 2.26 and a beta of 0.62. 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's fifty day simple moving average is C$91.16 and its 200-day simple moving average is C$83.77.

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

Great-West Lifeco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, September 1st. Great-West Lifeco's dividend payout ratio is currently 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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