Great-West Lifeco (TSE:GWO) Price Target Raised to C$73.00 at National Bank Financial

Great-West Lifeco (TSE:GWO) had its price objective upped by National Bank Financial from C$65.00 to C$73.00 in a research note released on Friday,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group increased their target price on shares of Great-West Lifeco from C$70.00 to C$83.00 in a research note on Friday, May 1st. Scotiabank lifted their price objective on Great-West Lifeco from C$68.00 to C$70.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. BMO Capital Markets lifted their price objective on Great-West Lifeco from C$70.00 to C$76.00 in a report on Friday. TD increased their price objective on shares of Great-West Lifeco from C$73.00 to C$80.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Barclays boosted their target price on Great-West Lifeco from C$70.00 to C$73.00 in a research note on Thursday. 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. Based on data from MarketBeat.com, Great-West Lifeco currently has an average rating of “Moderate Buy” and a consensus price target of C$77.18.

Great-West Lifeco Stock Performance

TSE:GWO opened at C$76.27 on Friday. Great-West Lifeco has a 1 year low of C$49.71 and a 1 year high of C$77.04. The company has a market cap of C$68.49 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 2.26 and a beta of 0.59. The stock’s 50 day simple moving average is C$66.82 and its two-hundred day simple moving average is C$64.86. The company has a debt-to-equity ratio of 29.59, a current ratio of 6.57 and a quick ratio of 22.18.

Great-West Lifeco (TSE:GWO) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$1.37 EPS for the quarter. Great-West Lifeco had a net margin of 12.86% and a return on equity of 15.17%. The business had revenue of C$8.37 billion during the quarter. As a group, equities analysts anticipate that Great-West Lifeco will post 4.4525194 earnings per share for the current fiscal year.

Great-West Lifeco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This is a boost from Great-West Lifeco’s previous quarterly dividend of $0.61. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. Great-West Lifeco’s dividend payout ratio is presently 53.76%.

Insiders Place Their Bets

In other Great-West Lifeco news, insider L.P. Great-West Lifeco U.S. Holdings sold 46,413 shares of Great-West Lifeco stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of C$63.46, for a total value of C$2,945,368.98. Insiders own 70.70% of the company’s stock.

Trending Headlines about Great-West Lifeco

Here are the key news stories impacting Great-West Lifeco this week:

• Positive Sentiment: Scotia raised its price target to C$83 and reiterated a “sector outperform” rating, signaling one of the most bullish views among the recent analyst updates. Scotia raises Great-West Lifeco price target
• Positive Sentiment: TD lifted its target to C$80 from C$73 and kept a “buy” rating, reinforcing confidence in the company’s near-term prospects. TD raises Great-West Lifeco price target
• Positive Sentiment: Canadian Imperial Bank of Commerce increased its target to C$81 from C$75, implying additional upside versus the current share price. CIBC raises Great-West Lifeco price target
• Positive Sentiment: Royal Bank of Canada, Desjardins, and Barclays all raised their targets as well, adding to the sense that analysts see more value in the stock after earnings. RBC, Desjardins, and Barclays raise Great-West Lifeco targets
• Positive Sentiment: The company’s latest quarter showed EPS of C$1.37 on revenue of C$8.37 billion, with a 10.96% net margin and 13.98% return on equity, which appears to have helped fuel the upbeat analyst revisions. Great-West Lifeco earnings report and transcript
• Neutral Sentiment: The company also announced the election of directors, which is routine governance news and likely not a major stock driver. Great West announces election of Directors

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.