Scotiabank Increases Great-West Lifeco (TSE:GWO) Price Target to C$50.00

Great-West Lifeco (TSE:GWO) had its price target boosted by Scotiabank from C$44.00 to C$50.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada upped their price target on Great-West Lifeco from C$45.00 to C$47.00 in a research note on Thursday, August 8th. Jefferies Financial Group upped their price target on Great-West Lifeco from C$42.00 to C$48.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Barclays set a C$43.00 price target on Great-West Lifeco and gave the company an “underweight” rating in a research note on Thursday, September 5th. Finally, TD Securities upped their price target on Great-West Lifeco from C$43.00 to C$44.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$46.38.

Great-West Lifeco Stock Performance

Great-West Lifeco stock opened at C$47.37 on Wednesday. The company has a current ratio of 37.46, a quick ratio of 22.18 and a debt-to-equity ratio of 29.61. Great-West Lifeco has a 1 year low of C$38.12 and a 1 year high of C$47.76. The company has a market cap of C$44.16 billion, a PE ratio of 11.90, a PEG ratio of 2.26 and a beta of 0.84. The company’s 50-day moving average is C$45.64 and its two-hundred day moving average is C$42.59.

Great-West Lifeco (TSE:GWO) last released its earnings results on Tuesday, August 6th. The company reported C$1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.05 by C$0.06. Great-West Lifeco had a net margin of 11.32% and a return on equity of 13.21%. The company had revenue of C$8.61 billion for the quarter, compared to the consensus estimate of C$9.83 billion. Equities analysts anticipate that Great-West Lifeco will post 4.4525194 earnings per share for the current year.

Great-West Lifeco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were paid a dividend of $0.555 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.22 dividend on an annualized basis and a yield of 4.69%. Great-West Lifeco’s payout ratio is 55.78%.

Insider Buying and Selling

In related news, Director Richard Henry Linton sold 35,800 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of C$46.27, for a total transaction of C$1,656,344.28. In other Great-West Lifeco news, Director Charles Donald Harvey Henaire sold 25,400 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$44.72, for a total transaction of C$1,135,888.00. Also, Director Richard Henry Linton sold 35,800 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of C$46.27, for a total value of C$1,656,344.28. 70.70% of the stock is owned by company insiders.

Great-West Lifeco Company Profile

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.