Scotiabank Increases Great-West Lifeco (TSE:GWO) Price Target to C$95.00

Key Points

• Scotiabank raised its price target on Great-West Lifeco to C$95.00 from C$83.00 and maintained a sector outperform rating, implying modest upside from the stock’s prior close.
• Other major analysts also turned more bullish, with several firms lifting their targets and the overall consensus sitting at Moderate Buy with an average price target of C$80.73.
• Great-West Lifeco’s shares were up 1.4% to C$92.55, near their 52-week high, while the company also reported quarterly EPS of C$1.37 on revenue of C$8.37 billion.

Great-West Lifeco (TSE:GWO - Get Free Report) had its price objective upped by investment analysts at Scotiabank from C$83.00 to C$95.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's target price would suggest a potential upside of 2.65% from the stock's previous close.

A number of other research firms have also issued reports on GWO. Canadian Imperial Bank of Commerce increased their target price on shares of Great-West Lifeco from C$81.00 to C$95.00 in a report on Wednesday. Royal Bank Of Canada upped their price objective on Great-West Lifeco from C$64.00 to C$77.00 in a research report on Friday, May 8th. TD lifted their target price on Great-West Lifeco from C$73.00 to C$80.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Jefferies Financial Group boosted their target price on Great-West Lifeco from C$70.00 to C$83.00 in a research note on Friday, May 1st. Finally, Desjardins increased their price target on Great-West Lifeco from C$71.00 to C$80.00 and gave the company a "hold" rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$80.73.

Great-West Lifeco Trading Up 1.4%

TSE:GWO traded up C$1.30 on Wednesday, reaching C$92.55. 309,583 shares of the company's stock were exchanged, compared to its average volume of 1,679,431. The firm has a market capitalization of C$83.11 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. Great-West Lifeco has a 52-week low of C$51.40 and a 52-week high of C$92.97. The company has a quick ratio of 22.18, a current ratio of 6.57 and a debt-to-equity ratio of 29.59. The business has a fifty day moving average of C$83.70 and a 200-day moving average of C$72.03.

Great-West Lifeco (TSE:GWO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$1.37 EPS for the quarter. The business had revenue of C$8.37 billion during the quarter. Great-West Lifeco had a net margin of 12.86% and a return on equity of 15.17%. As a group, analysts expect that Great-West Lifeco will post 4.4525194 earnings per share for the current year.

Insider Activity at Great-West Lifeco

In other news, Director Mei Dong sold 39,400 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$76.33, for a total transaction of C$3,007,402.00. Following the completion of the transaction, the director directly owned 2,721 shares of the company's stock, valued at approximately C$207,693.93. This represents a 93.54% decrease in their position. Also, insider Jean-Francois Poulin sold 20,000 shares of the company's stock in a transaction dated Friday, June 19th. The stock was sold at an average price of C$89.55, for a total value of C$1,791,000.00. Following the transaction, the insider directly owned 160 shares of the company's stock, valued at approximately C$14,328. This represents a 99.21% decrease in their ownership of the stock. Insiders have sold 119,200 shares of company stock valued at $9,821,888 over the last quarter. 70.70% of the stock is owned by insiders.

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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