TD Raises Great-West Lifeco (TSE:GWO) Price Target to C$98.00

Key Points

• TD raised its price target on Great-West Lifeco to C$98.00 from C$80.00 and kept a buy rating. The new target implies about 6.38% upside from the current share price.
• Several other brokers also boosted their targets recently, including Jefferies, CIBC, Barclays, National Bank Financial, and Desjardins. MarketBeat data shows a consensus rating of Moderate Buy with an average target of C$84.55.
• The stock was trading up 0.4% at C$92.12, near its 12-month high of C$93.69. Recent results showed C$1.37 EPS for the quarter and C$8.37 billion in revenue, while insiders have also been selling shares over the past 90 days.

Great-West Lifeco (TSE:GWO - Get Free Report) had its target price hoisted by equities researchers at TD from C$80.00 to C$98.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD's price target indicates a potential upside of 6.38% from the stock's current price.

A number of other research firms also recently issued reports on GWO. Canadian Imperial Bank of Commerce increased their price target on shares of Great-West Lifeco from C$81.00 to C$95.00 in a research note on Wednesday, July 15th. Jefferies Financial Group upped their target price on Great-West Lifeco from C$84.00 to C$107.00 and gave the stock a "buy" rating in a report on Tuesday. Barclays increased their target price on Great-West Lifeco from C$70.00 to C$73.00 in a research report on Thursday, May 7th. National Bank Financial lifted their price target on Great-West Lifeco from C$65.00 to C$73.00 and gave the company a "sector perform" rating in a research report on Friday, May 8th. Finally, Desjardins upped their price target on Great-West Lifeco from C$71.00 to C$80.00 and gave the stock a "hold" rating in a research note on Friday, May 8th. One equities research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$84.55.

Great-West Lifeco Trading Up 0.4%

Shares of Great-West Lifeco stock traded up C$0.39 during midday trading on Tuesday, reaching C$92.12. 212,353 shares of the company's stock traded hands, compared to its average volume of 1,653,268. The company has a debt-to-equity ratio of 29.59, a quick ratio of 22.18 and a current ratio of 6.57. The company has a market cap of C$82.73 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. The stock has a 50 day moving average of C$85.07 and a 200-day moving average of C$72.73. Great-West Lifeco has a 12 month low of C$51.60 and a 12 month high of C$93.69.

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

Insider Buying and Selling at Great-West Lifeco

In other news, Director Edmund Francis Murphy sold 40,000 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was 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 directly owned 8,784 shares in the company, valued at C$757,180.80. This trade represents a 81.99% decrease in their ownership of the stock. Also, insider Jean-Francois Poulin sold 20,000 shares of Great-West Lifeco 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 completion of 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 position. Over the last 90 days, insiders sold 119,200 shares of company stock worth $9,821,888. 70.70% of the stock is owned by insiders.

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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