Desjardins Weighs in on Great-West Lifeco Inc.’s FY2024 Earnings (TSE:GWO)

Great-West Lifeco Inc. (TSE:GWO) – Stock analysts at Desjardins raised their FY2024 EPS estimates for shares of Great-West Lifeco in a report issued on Thursday, May 2nd. Desjardins analyst D. Young now anticipates that the company will post earnings per share of $4.28 for the year, up from their previous estimate of $4.18. The consensus estimate for Great-West Lifeco’s current full-year earnings is $4.20 per share.

GWO has been the topic of several other reports. TD Securities reduced their price objective on Great-West Lifeco from C$45.00 to C$44.00 in a research report on Thursday, May 2nd. Jefferies Financial Group raised their price target on shares of Great-West Lifeco from C$44.00 to C$46.00 in a research note on Friday, May 3rd. Scotiabank boosted their price objective on shares of Great-West Lifeco from C$42.00 to C$44.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 6th. BMO Capital Markets raised their target price on shares of Great-West Lifeco from C$44.00 to C$45.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, CIBC boosted their price target on Great-West Lifeco from C$44.00 to C$46.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$44.00.

Great-West Lifeco Price Performance

GWO stock opened at C$42.89 on Monday. The company has a debt-to-equity ratio of 29.96, a quick ratio of 22.18 and a current ratio of 37.37. The stock’s 50 day moving average price is C$41.98 and its 200 day moving average price is C$42.34. The firm has a market cap of C$40.01 billion, a P/E ratio of 12.22, a PEG ratio of 2.26 and a beta of 0.86. Great-West Lifeco has a 1 year low of C$37.06 and a 1 year high of C$45.18.

Great-West Lifeco (TSE:GWO) last released its quarterly earnings results on Wednesday, February 14th. The company reported C$1.04 EPS for the quarter, beating the consensus estimate of C$0.99 by C$0.05. Great-West Lifeco had a net margin of 10.05% and a return on equity of 11.74%. The business had revenue of C$20.21 billion for the quarter.

Great-West Lifeco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Friday, May 31st. Great-West Lifeco’s payout ratio is currently 63.25%.

Insider Buying and Selling at Great-West Lifeco

In other news, Senior Officer Linda Kerrigan sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$42.95, for a total value of C$214,750.00. In other news, Senior Officer Linda Kerrigan sold 5,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$42.95, for a total value of C$214,750.00. Also, Senior Officer Bradley John Fedorchuk sold 2,900 shares of Great-West Lifeco stock in a transaction on Monday, February 26th. The shares were sold at an average price of C$42.44, for a total transaction of C$123,062.08. Over the last 90 days, insiders sold 13,300 shares of company stock valued at $566,402. Company insiders own 70.58% of the company’s stock.

Great-West Lifeco Company Profile

Great-West Lifeco Inc engages in the life and health insurance, retirement and investment services, asset management, and reinsurance businesses in Canada, the United States, and Europe. The company offers life, accidental death and dismemberment, disability, critical illness, health and dental protection, and creditor insurance products; and retirement and wealth savings, income and annuity products, and other specialty products to individuals, families, businesses, and organizations.