TD Increases Great-West Lifeco (TSE:GWO) Price Target to C$80.00

Key Points

• TD raised its price target on Great‑West Lifeco to C$80.00 (from C$73.00) and maintained a "buy" rating, implying about a 5.36% upside from the recent price, while other brokers (notably Jefferies) also lifted targets (Jefferies to C$83.00).
• The stock traded up to C$75.93 (up ~4.2%) with a market cap of C$68.82B and a P/E of 17.8, yet the analyst consensus is a "Moderate Buy" with an average target of C$72.36, which is below the current price.

Great-West Lifeco (TSE:GWO - Get Free Report) had its target price upped by stock analysts at TD from C$73.00 to C$80.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD's price target would suggest a potential upside of 5.36% from the company's current price.

Other research analysts have also issued reports about the company. Desjardins lifted their target price on Great-West Lifeco from C$68.00 to C$71.00 and gave the stock a "hold" rating in a report on Friday, April 17th. National Bank Financial set a C$65.00 price target on Great-West Lifeco and gave the stock a "sector perform" rating in a report on Friday, April 24th. Royal Bank Of Canada raised their price target on Great-West Lifeco from C$60.00 to C$64.00 and gave the stock a "sector perform" rating in a research report on Friday, February 13th. Jefferies Financial Group lifted their price objective on Great-West Lifeco from C$70.00 to C$83.00 in a report on Friday, May 1st. Finally, Barclays boosted their price objective on Great-West Lifeco from C$70.00 to C$73.00 in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$72.36.

Great-West Lifeco Trading Up 4.2%

TSE:GWO traded up C$3.07 during trading hours on Thursday, hitting C$75.93. The stock had a trading volume of 552,429 shares, compared to its average volume of 1,657,036. The business's 50 day moving average is C$66.57 and its 200-day moving average is C$64.73. The company has a debt-to-equity ratio of 44.93, a quick ratio of 22.18 and a current ratio of 5.80. The company has a market cap of C$68.82 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 2.26 and a beta of 0.59. Great-West Lifeco has a one year low of C$49.54 and a one year high of C$76.30.

Great-West Lifeco (TSE:GWO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported C$1.36 earnings per share for the quarter. Great-West Lifeco had a net margin of 10.96% and a return on equity of 13.98%. The company had revenue of C$8.34 billion for the quarter. Sell-side analysts anticipate that Great-West Lifeco will post 4.4525194 EPS for the current fiscal year.

Insiders Place Their Bets

In other Great-West Lifeco news, insider L.P. Great-West Lifeco U.S. Holdings sold 46,413 shares of the stock in a transaction dated 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. 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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