Royal Bank Of Canada Issues Positive Forecast for Great-West Lifeco (TSE:GWO) Stock Price

Key Points

• Royal Bank of Canada raised its price target on Great-West Lifeco to C$77.00 from C$64.00, implying a modest upside from the current share price.
• Several other brokerages also increased their targets, and the stock now carries an average analyst rating of Moderate Buy with an average price target of C$77.18.
• Great-West Lifeco recently reported quarterly earnings of C$1.37 per share on C$8.37 billion in revenue, while the stock traded near its 12-month high of C$77.04.

Great-West Lifeco (TSE:GWO - Get Free Report) had its price objective hoisted by research analysts at Royal Bank Of Canada from C$64.00 to C$77.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Royal Bank Of Canada's price objective suggests a potential upside of 0.97% from the company's current price.

A number of other equities research analysts have also issued reports on the stock. Barclays increased their price objective on shares of Great-West Lifeco from C$70.00 to C$73.00 in a report on Thursday. Desjardins boosted their price target on shares of Great-West Lifeco from C$68.00 to C$71.00 and gave the stock a "hold" rating in a research note on Friday, April 17th. Canadian Imperial Bank of Commerce raised their price objective on Great-West Lifeco from C$75.00 to C$81.00 in a research report on Friday. TD Securities lifted their target price on Great-West Lifeco from C$70.00 to C$73.00 in a report on Wednesday, January 14th. Finally, Scotiabank boosted their target price on Great-West Lifeco from C$68.00 to C$70.00 and gave the stock an "outperform" rating in a research report on Thursday, February 5th. 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$77.18.

Great-West Lifeco Price Performance

TSE:GWO traded down C$0.10 on Friday, reaching C$76.26. 504,991 shares of the company's stock traded hands, compared to its average volume of 1,655,716. 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 12 month low of C$49.71 and a 12 month high of C$77.04. The firm has a market cap of C$69.12 billion, a PE ratio of 17.90, a P/E/G ratio of 2.26 and a beta of 0.59. The company has a quick ratio of 22.18, a current ratio of 5.80 and a debt-to-equity ratio of 44.93.

Great-West Lifeco (TSE:GWO - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.37 earnings per share for the quarter. Great-West Lifeco had a return on equity of 13.98% and a net margin of 10.96%.The firm had revenue of C$8.37 billion during the quarter. Equities research analysts forecast that Great-West Lifeco will post 4.4525194 earnings per share 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 stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of C$63.46, for a total transaction of C$2,945,368.98. Corporate insiders own 70.70% of the company's stock.

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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