Shares of Great-West Lifeco Inc. (TSE:GWO – Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as C$90.21 and last traded at C$89.25, with a volume of 411957 shares traded. The stock had previously closed at C$88.89.
Analyst Ratings Changes
A number of research firms have recently issued reports on GWO. Royal Bank Of Canada boosted their price target on shares of Great-West Lifeco from C$64.00 to C$77.00 in a research note on Friday, May 8th. Scotia boosted their target price on Great-West Lifeco from C$78.00 to C$83.00 and gave the company a “sector outperform” rating in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce upped their price target on Great-West Lifeco from C$75.00 to C$81.00 in a research note on Friday, May 8th. Desjardins raised their price target on Great-West Lifeco from C$71.00 to C$80.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Finally, Barclays lifted their price objective on Great-West Lifeco from C$70.00 to C$73.00 in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$77.18.
Get Our Latest Research Report on GWO
Great-West Lifeco Trading Down 0.3%
Great-West Lifeco (TSE:GWO – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported C$1.37 earnings per share for the quarter. Great-West Lifeco had a net margin of 12.86% and a return on equity of 15.17%. The firm had revenue of C$8.37 billion for the quarter. As a group, analysts forecast that Great-West Lifeco Inc. will post 4.4525194 EPS for the current fiscal year.
Great-West Lifeco Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.0%. Great-West Lifeco’s dividend payout ratio is currently 53.76%.
Insider Buying and Selling
In related news, insider Jean-Francois Poulin sold 20,000 shares of the business’s stock in a transaction on Friday, June 19th. The stock was sold at an average price of C$89.55, for a total transaction of C$1,791,000.00. Following the completion of the transaction, the insider directly owned 160 shares of the company’s stock, valued at C$14,328. The trade was a 99.21% decrease in their position. Also, Director Edmund Francis Murphy sold 40,000 shares of the business’s stock in a transaction on 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 transaction, 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 ownership of the stock. Insiders have sold a total of 165,613 shares of company stock valued at $12,767,257 in the last three months. 70.70% of the stock is currently owned by insiders.
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.
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