Shares of Great-West Lifeco Inc. (TSE:GWO – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$93.96 and last traded at C$92.29, with a volume of 48822 shares. The stock had previously closed at C$91.87.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Jefferies Financial Group upped their target price on Great-West Lifeco from C$84.00 to C$107.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce increased their price target on shares of Great-West Lifeco from C$95.00 to C$97.00 in a report on Thursday, July 30th. Royal Bank Of Canada raised their target price on Great-West Lifeco from C$77.00 to C$91.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Desjardins lifted their price target on shares of Great-West Lifeco from C$93.00 to C$95.00 in a research report on Thursday, July 30th. Finally, TD boosted their price objective on shares of Great-West Lifeco from C$98.00 to C$106.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Great-West Lifeco currently has an average rating of “Moderate Buy” and a consensus price target of C$93.27.
Check Out Our Latest Stock Report on Great-West Lifeco
Great-West Lifeco Price Performance
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 (EPS) for the quarter. The firm had revenue of C$8.35 billion for the quarter. Great-West Lifeco had a return on equity of 15.48% and a net margin of 12.49%. As a group, equities research analysts forecast that Great-West Lifeco Inc. will post 4.4525194 EPS for the current fiscal year.
Great-West Lifeco Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, June 2nd. Great-West Lifeco’s dividend payout ratio is presently 52.89%.
Insider Buying and Selling
In other news, Director Edmund Francis Murphy sold 40,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of C$86.20, for a total transaction of C$3,448,000.00. Following the completion of the sale, the director directly owned 8,784 shares of the company’s stock, valued at C$757,180.80. The trade was a 81.99% decrease in their position. Also, Director Mei Dong sold 39,400 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$76.33, for a total value of C$3,007,402.00. Following the sale, the director directly owned 2,721 shares of the company’s stock, valued at approximately C$207,693.93. This trade represents a 93.54% decrease in their position. Over the last three months, insiders have sold 119,200 shares of company stock valued at $9,821,888. Insiders own 70.70% of the company’s stock.
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.
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