Analysts Set Great-West Lifeco Inc. (TSE:GWO) Price Target at C$67.22

Great-West Lifeco Inc. (TSE:GWO) has been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$67.22.

A number of brokerages have recently weighed in on GWO. BMO Capital Markets cut their price objective on Great-West Lifeco from C$68.00 to C$66.00 and set a “market perform” rating on the stock in a report on Friday, February 13th. Jefferies Financial Group raised Great-West Lifeco from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$67.00 to C$70.00 in a report on Friday, February 13th. TD Securities upped their target price on Great-West Lifeco from C$70.00 to C$73.00 in a research report on Wednesday, January 14th. Barclays increased their price target on shares of Great-West Lifeco from C$59.00 to C$70.00 in a report on Friday, January 9th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of Great-West Lifeco from C$67.00 to C$73.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th.

Great-West Lifeco Price Performance

TSE GWO opened at C$62.38 on Tuesday. The company has a market cap of C$56.54 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 2.26 and a beta of 0.63. The company has a debt-to-equity ratio of 44.93, a current ratio of 5.80 and a quick ratio of 22.18. The stock’s fifty day moving average price is C$64.17 and its 200 day moving average price is C$61.49. Great-West Lifeco has a 1 year low of C$49.54 and a 1 year high of C$68.56.

Great-West Lifeco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 4.3%. This is a boost from Great-West Lifeco’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Tuesday, March 3rd. Great-West Lifeco’s dividend payout ratio is 57.28%.

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.