Scotia Raises Great-West Lifeco (TSE:GWO) Price Target to C$83.00

Key Points

• Scotia raised its price target on Great-West Lifeco to C$83.00 from C$78.00 and kept a sector outperform rating, implying about 8.84% upside from the current price.
• Several other analysts also boosted their targets on the stock, including CIBC, RBC, Desjardins, National Bank Financial, and BMO, with the overall consensus rating at Moderate Buy and an average target of C$77.18.
• Great-West Lifeco shares were trading near their 52-week high at C$76.26 after reporting quarterly EPS of C$1.37 on revenue of C$8.37 billion; the company has a market cap of C$69.12 billion.

Great-West Lifeco (TSE:GWO - Get Free Report) had its price objective increased by analysts at Scotia from C$78.00 to C$83.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a "sector outperform" rating on the stock. Scotia's price target points to a potential upside of 8.84% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. Canadian Imperial Bank of Commerce upped their price target on shares of Great-West Lifeco from C$75.00 to C$81.00 in a research note on Friday. Royal Bank Of Canada boosted their target price on shares of Great-West Lifeco from C$64.00 to C$77.00 in a report on Friday. Desjardins increased their price target on shares of Great-West Lifeco from C$68.00 to C$71.00 and gave the company a "hold" rating in a report on Friday, April 17th. National Bank Financial lifted their price target on Great-West Lifeco from C$65.00 to C$73.00 and gave the stock a "sector perform" rating in a research report on Friday. Finally, BMO Capital Markets boosted their price objective on Great-West Lifeco from C$70.00 to C$76.00 in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$77.18.

Great-West Lifeco Price Performance

Shares of GWO stock traded down C$0.10 during trading hours on Friday, hitting C$76.26. The stock had a trading volume of 504,991 shares, compared to its average volume of 1,655,716. The stock has a market capitalization of C$69.12 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.26 and a beta of 0.59. The stock's 50-day moving average price is C$66.82 and its two-hundred day moving average price is C$64.86. The company has a debt-to-equity ratio of 44.93, a current ratio of 5.80 and a quick ratio of 22.18. Great-West Lifeco has a one year low of C$49.71 and a one year high of C$77.04.

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 (EPS) for the quarter. The business had revenue of C$8.37 billion for the quarter. Great-West Lifeco had a return on equity of 13.98% and a net margin of 10.96%. Equities analysts forecast that Great-West Lifeco will post 4.4525194 EPS for the current year.

Insider Buying and Selling at Great-West Lifeco

In other news, insider L.P. Great-West Lifeco U.S. Holdings sold 46,413 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of C$63.46, for a total value of C$2,945,368.98. 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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