Great-West Lifeco Inc. to Post FY2024 Earnings of $4.28 Per Share, Desjardins Forecasts (TSE:GWO)

Great-West Lifeco Inc. (TSE:GWO) – Equities research analysts at Desjardins lifted their FY2024 earnings estimates for shares of Great-West Lifeco in a report released on Thursday, May 2nd. Desjardins analyst D. Young now anticipates that the company will post earnings per share of $4.28 for the year, up from their prior estimate of $4.18. The consensus estimate for Great-West Lifeco’s current full-year earnings is $4.20 per share.

Great-West Lifeco (TSE:GWO) last issued its earnings results on Wednesday, February 14th. The company reported C$1.04 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.99 by C$0.05. The firm had revenue of C$20.21 billion for the quarter. Great-West Lifeco had a net margin of 10.05% and a return on equity of 11.74%.

Several other research firms have also recently weighed in on GWO. TD Securities reduced their price target on Great-West Lifeco from C$45.00 to C$44.00 in a report on Thursday, May 2nd. Scotiabank boosted their price objective on shares of Great-West Lifeco from C$42.00 to C$44.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 6th. Royal Bank of Canada lifted their target price on Great-West Lifeco from C$44.00 to C$45.00 and gave the stock a “sector perform” rating in a report on Friday. Jefferies Financial Group increased their price target on Great-West Lifeco from C$44.00 to C$46.00 in a research note on Friday. Finally, CIBC lifted their price objective on Great-West Lifeco from C$44.00 to C$46.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$44.00.

Great-West Lifeco Trading Up 2.6 %

Shares of GWO stock opened at C$43.33 on Monday. The company has a quick ratio of 22.18, a current ratio of 37.37 and a debt-to-equity ratio of 29.96. The firm has a market capitalization of C$40.42 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.26 and a beta of 0.86. Great-West Lifeco has a twelve month low of C$37.06 and a twelve month high of C$45.18. The stock’s fifty day simple moving average is C$41.97 and its 200 day simple moving average is C$42.30.

Great-West Lifeco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.555 dividend. This represents a $2.22 annualized dividend and a yield of 5.12%. The ex-dividend date is Friday, May 31st. Great-West Lifeco’s dividend payout ratio (DPR) is presently 63.25%.

Insider Transactions at Great-West Lifeco

In other Great-West Lifeco news, Senior Officer Bradley John Fedorchuk sold 2,900 shares of Great-West Lifeco stock in a transaction on Monday, February 26th. The shares were sold at an average price of C$42.44, for a total value of C$123,062.08. In other news, Senior Officer Dervla Mary Tomlin sold 5,400 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of C$42.33, for a total transaction of C$228,590.10. Also, Senior Officer Bradley John Fedorchuk sold 2,900 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of C$42.44, for a total transaction of C$123,062.08. Insiders sold a total of 13,300 shares of company stock valued at $566,402 in the last quarter. 70.58% of the stock is currently owned by company insiders.

About Great-West Lifeco

Great-West Lifeco Inc engages in the life and health insurance, retirement and investment services, asset management, and reinsurance businesses in Canada, the United States, and Europe. The company offers life, accidental death and dismemberment, disability, critical illness, health and dental protection, and creditor insurance products; and retirement and wealth savings, income and annuity products, and other specialty products to individuals, families, businesses, and organizations.