Royal Bank Of Canada Boosts Great-West Lifeco (TSE:GWO) Price Target to C$60.00

Great-West Lifeco (TSE:GWO) had its price objective upped by investment analysts at Royal Bank Of Canada from C$53.00 to C$60.00 in a report released on Monday,BayStreet.CA reports. Royal Bank Of Canada’s price objective suggests a potential downside of 0.02% from the company’s current price.

Several other research firms also recently weighed in on GWO. Scotiabank lifted their target price on Great-West Lifeco from C$59.00 to C$61.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. UBS Group raised Great-West Lifeco to a “strong-buy” rating in a research report on Thursday, October 16th. CIBC increased their target price on shares of Great-West Lifeco from C$65.00 to C$67.00 in a report on Friday. Desjardins raised their target price on shares of Great-West Lifeco from C$55.00 to C$60.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, BMO Capital Markets upped their price target on shares of Great-West Lifeco from C$55.00 to C$56.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Great-West Lifeco presently has a consensus rating of “Moderate Buy” and an average target price of C$62.11.

Great-West Lifeco Stock Up 0.2%

GWO traded up C$0.11 during trading on Monday, hitting C$60.01. The company’s stock had a trading volume of 402,605 shares, compared to its average volume of 2,570,603. The business’s 50 day simple moving average is C$56.75 and its 200-day simple moving average is C$53.78. The firm has a market cap of C$55.23 billion, a PE ratio of 13.92, a P/E/G ratio of 2.26 and a beta of 0.63. Great-West Lifeco has a one year low of C$44.89 and a one year high of C$61.39.

Great-West Lifeco declared that its Board of Directors has approved a share buyback plan on Tuesday, August 5th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.