Great-West Lifeco (TSE:GWO) Price Target Raised to C$73.00

Great-West Lifeco (TSE:GWO) had its price objective hoisted by research analysts at TD Securities from C$70.00 to C$73.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. TD Securities’ price target points to a potential upside of 9.53% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Desjardins boosted their price target on Great-West Lifeco from C$55.00 to C$60.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Barclays increased their target price on shares of Great-West Lifeco from C$59.00 to C$70.00 in a research report on Friday, January 9th. BMO Capital Markets lifted their price target on shares of Great-West Lifeco from C$60.00 to C$66.00 in a research report on Monday, November 10th. CIBC boosted their price objective on shares of Great-West Lifeco from C$67.00 to C$73.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, UBS Group raised shares of Great-West Lifeco to a “strong-buy” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$64.33.

Great-West Lifeco Stock Up 0.6%

Shares of GWO traded up C$0.43 during mid-day trading on Wednesday, hitting C$66.65. The company had a trading volume of 361,890 shares, compared to its average volume of 1,010,429. Great-West Lifeco has a 1-year low of C$44.89 and a 1-year high of C$68.56. The business’s 50-day simple moving average is C$65.08 and its 200-day simple moving average is C$58.35. The stock has a market cap of C$60.46 billion, a PE ratio of 15.46, a P/E/G ratio of 2.26 and a beta of 0.72.

Great-West Lifeco (TSE:GWO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C$1.33 earnings per share for the quarter. Great-West Lifeco had a net margin of 16.06% and a return on equity of 14.81%. The company had revenue of C$8.21 billion for the quarter. On average, sell-side analysts expect that Great-West Lifeco will post 4.4525194 earnings per share for the current year.

Insider Buying and Selling at Great-West Lifeco

In other news, Director Edmund Francis Murphy sold 94,532 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of C$64.51, for a total transaction of C$6,098,259.32. Following the completion of the sale, the director directly owned 4,916 shares in the company, valued at C$317,131.16. This trade represents a 95.06% decrease in their ownership of the stock. 70.70% of the stock is owned by corporate 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.