CIBC Cuts Great-West Lifeco (TSE:GWO) Price Target to C$57.00

Great-West Lifeco (TSE:GWO) had its target price reduced by CIBC from C$60.00 to C$57.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group reduced their price target on Great-West Lifeco from C$58.00 to C$57.00 in a research report on Monday, April 21st. TD Securities upped their target price on Great-West Lifeco from C$53.00 to C$62.00 and gave the stock a “buy” rating in a research report on Thursday, April 3rd. Royal Bank of Canada set a C$53.00 price target on shares of Great-West Lifeco and gave the company a “sector perform” rating in a research report on Tuesday, April 15th. Scotiabank upped their price objective on shares of Great-West Lifeco from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Desjardins lifted their target price on shares of Great-West Lifeco from C$49.00 to C$53.00 and gave the stock a “hold” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Great-West Lifeco presently has an average rating of “Hold” and a consensus price target of C$56.00.

Great-West Lifeco Trading Down 1.0 %

Great-West Lifeco stock opened at C$51.86 on Thursday. The company has a market capitalization of C$48.28 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.26 and a beta of 0.84. Great-West Lifeco has a 1-year low of C$38.44 and a 1-year high of C$57.61. The firm’s fifty day simple moving average is C$53.20 and its 200-day simple moving average is C$49.97.

Great-West Lifeco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a $0.61 dividend. The ex-dividend date was Monday, March 3rd. This is an increase from Great-West Lifeco’s previous quarterly dividend of $0.56. This represents a $2.44 dividend on an annualized basis and a yield of 4.70%. Great-West Lifeco’s dividend payout ratio is 50.79%.

Insider Transactions at Great-West Lifeco

In other Great-West Lifeco news, Director Charles Donald Harvey Henaire sold 26,100 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$53.00, for a total value of C$1,383,300.00. Also, Senior Officer Linda Kerrigan sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of C$51.64, for a total transaction of C$438,927.25. In the last 90 days, insiders have sold 144,257 shares of company stock worth $7,640,646. 70.70% of the stock is currently owned by company insiders.

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.