Great-West Lifeco (TSE:GWO) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Great-West Lifeco shares broke above their 200-day moving average, reaching C$92.59 before closing at C$91.51, compared with the 200-day average of C$79.47.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of C$93.27. Jefferies issued the highest target at C$107.
• The company reported quarterly earnings of C$1.42 per share on C$8.35 billion in revenue and announced a quarterly dividend of C$0.67, equivalent to a 2.9% yield.

Great-West Lifeco Inc. (TSE:GWO - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$79.47 and traded as high as C$92.59. Great-West Lifeco shares last traded at C$91.51, with a volume of 1,164,395 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GWO shares. BMO Capital Markets increased their target price on shares of Great-West Lifeco from C$90.00 to C$92.00 and gave the stock a "market perform" rating in a report on Thursday, July 30th. Jefferies Financial Group lifted their price target on shares of Great-West Lifeco from C$84.00 to C$107.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. National Bank Financial upped their price objective on shares of Great-West Lifeco from C$93.00 to C$95.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 29th. Canadian Imperial Bank of Commerce increased their price objective on shares of Great-West Lifeco from C$95.00 to C$97.00 in a research note on Thursday, July 30th. Finally, Desjardins raised 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 equities 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$93.27.

Great-West Lifeco Price Performance

The stock has a market cap of C$81.92 billion, a P/E ratio of 18.91, a P/E/G ratio of 2.26 and a beta of 0.61. The company's 50 day moving average price is C$91.33 and its 200-day moving average price is C$79.47. The company has a quick ratio of 22.18, a current ratio of 6.07 and a debt-to-equity ratio of 28.63.

Great-West Lifeco (TSE:GWO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported C$1.42 earnings per share for the quarter. The business 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%. As a group, sell-side analysts expect 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 will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be issued a $0.67 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.68 annualized dividend and a yield of 2.9%. Great-West Lifeco's dividend payout ratio is presently 52.89%.

Insider Buying and Selling

In other Great-West Lifeco news, Director Edmund Francis Murphy sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of C$86.20, for a total transaction of C$3,448,000.00. Following the completion of the transaction, the director owned 8,784 shares in the company, valued at approximately C$757,180.80. This trade represents a 81.99% decrease in their position. Also, insider Jean-Francois Poulin sold 20,000 shares of the business's stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of C$89.55, for a total transaction of C$1,791,000.00. Following the completion of the transaction, the insider owned 160 shares in the company, valued at C$14,328. This trade represents a 99.21% decrease in their position. Corporate 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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