Great-West Lifeco Inc. (TSE:GWO) Senior Officer Sells C$484,931.76 in Stock

Great-West Lifeco Inc. (TSE:GWO) Senior Officer David Martin Harney sold 9,300 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of C$52.14, for a total value of C$484,931.76.

David Martin Harney also recently made the following trade(s):

• On Thursday, January 2nd, David Martin Harney sold 562 shares of Great-West Lifeco stock. The shares were sold at an average price of C$47.55, for a total value of C$26,721.58.

Great-West Lifeco Stock Performance

TSE:GWO traded down C$0.57 during mid-day trading on Tuesday, hitting C$51.53. 63,546 shares of the company’s stock traded hands, compared to its average volume of 2,976,166. Great-West Lifeco Inc. has a 1 year low of C$38.44 and a 1 year high of C$54.64. The company has a market cap of C$47.97 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84. The firm’s 50 day simple moving average is C$49.35 and its 200 day simple moving average is C$47.74.

Great-West Lifeco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be given a dividend of $0.61 per share. This is an increase from Great-West Lifeco’s previous quarterly dividend of $0.56. This represents a $2.44 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Monday, March 3rd. Great-West Lifeco’s payout ratio is currently 50.79%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Scotiabank increased their price objective on Great-West Lifeco from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays upped their price target on shares of Great-West Lifeco from C$45.00 to C$46.00 in a research note on Monday, January 6th. CIBC upgraded shares of Great-West Lifeco from a “neutral” rating to an “outperform” rating and raised their price objective for the company from C$56.00 to C$60.00 in a research note on Friday, February 7th. TD Securities raised shares of Great-West Lifeco from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$49.00 to C$53.00 in a report on Friday, February 7th. Finally, BMO Capital Markets increased their target price on shares of Great-West Lifeco from C$52.00 to C$54.00 and gave the company a “market perform” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Great-West Lifeco currently has an average rating of “Hold” and an average price target of C$52.22.

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.