Great-West Lifeco (TSE:GWO – Free Report) had its target price lifted by BMO Capital Markets from C$90.00 to C$92.00 in a research report sent to investors on Thursday,BayStreet.CA reports. BMO Capital Markets currently has a market perform rating on the stock.
A number of other equities research analysts also recently commented on GWO. Canadian Imperial Bank of Commerce lifted their price objective on Great-West Lifeco from C$95.00 to C$97.00 in a research report on Thursday. Jefferies Financial Group increased their target price on Great-West Lifeco from C$84.00 to C$107.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Scotiabank raised their price target on Great-West Lifeco from C$95.00 to C$100.00 and gave the stock a “sector outperform” rating in a research note on Thursday. TD lifted their price target on Great-West Lifeco from C$98.00 to C$106.00 and gave the company a “buy” rating in a report on Wednesday. Finally, National Bank Financial upped their price objective on shares of Great-West Lifeco from C$93.00 to C$95.00 and gave the company a “sector perform” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Great-West Lifeco presently has a consensus rating of “Moderate Buy” and a consensus target price of C$93.27.
Great-West Lifeco Stock Up 1.2%
Great-West Lifeco (TSE:GWO – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported C$1.42 earnings per share for the quarter. Great-West Lifeco had a return on equity of 15.48% and a net margin of 12.49%.The company had revenue of C$8.35 billion during the quarter. As a group, sell-side analysts expect that Great-West Lifeco will post 4.4525194 EPS for the current year.
Great-West Lifeco Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 2nd. Great-West Lifeco’s dividend payout ratio (DPR) is 52.89%.
Insider Activity at Great-West Lifeco
In other Great-West Lifeco news, Director Mei Dong sold 39,400 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$76.33, for a total transaction of C$3,007,402.00. Following the completion of the sale, the director owned 2,721 shares of the company’s stock, valued at approximately C$207,693.93. The trade was a 93.54% decrease in their ownership of the stock. Also, Director Edmund Francis Murphy sold 40,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of C$86.20, for a total value of C$3,448,000.00. Following the sale, the director owned 8,784 shares of the company’s stock, valued at C$757,180.80. This represents a 81.99% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 119,200 shares of company stock worth $9,821,888. 70.70% of the stock is owned by insiders.
Key Great-West Lifeco News
Here are the key news stories impacting Great-West Lifeco this week:
- Positive Sentiment: Management’s earnings call highlighted continued growth momentum, supporting confidence in Great-West Lifeco’s earnings outlook and business performance. Great-West Lifeco Earnings Call Highlights Growth Momentum
- Positive Sentiment: Scotiabank raised its price target to C$100 from C$95 and assigned a “sector outperform” rating, implying meaningful potential appreciation. CIBC also lifted its target to C$97 from C$95, while Desjardins raised its target to C$95 from C$93. Analyst Ratings
- Positive Sentiment: Barclays expects Great-West Lifeco’s stock to rise, adding to the favorable analyst sentiment surrounding the company. Barclays Great-West Lifeco Stock Forecast
- Positive Sentiment: National Bank Financial forecast strong price appreciation for the shares, reinforcing expectations for further upside. National Bank Financial Great-West Lifeco Forecast
- Neutral Sentiment: BMO raised its target to C$92 from C$90 but retained a “market perform” rating, while RBC increased its target to C$91 from C$77 and maintained “sector perform.” These revisions acknowledge improved valuation but suggest limited near-term upside under their assumptions. Analyst Ratings
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.
Recommended Stories
- Five stocks we like better than Great-West Lifeco
- Popular’s Earnings Beat Shows Why This Bank Stock Keeps Climbing
- ABB’s Rotork Deal Could Put These Flow Control Stocks Back in Focus
- GE HealthCare Stock Climbs on Vital Diagnostics Demand
- Lost in Space: Why Aerospace Valuations Are Plummeting Right Now
Receive News & Ratings for Great-West Lifeco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great-West Lifeco and related companies with MarketBeat.com's FREE daily email newsletter.
