TD Forecasts Strong Price Appreciation for Great-West Lifeco (TSE:GWO) Stock

Great-West Lifeco (TSE:GWO) had its price target upped by investment analysts at TD from C$80.00 to C$98.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD’s target price would indicate a potential upside of 6.38% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Desjardins upped their price target on shares of Great-West Lifeco from C$71.00 to C$80.00 and gave the company a “hold” rating in a report on Friday, May 8th. Jefferies Financial Group increased their price objective on shares of Great-West Lifeco from C$84.00 to C$107.00 and gave the stock a “buy” rating in a research report on Tuesday. BMO Capital Markets raised their price objective on shares of Great-West Lifeco from C$70.00 to C$76.00 in a report on Friday, May 8th. Scotia boosted their price objective on shares of Great-West Lifeco from C$78.00 to C$83.00 and gave the company a “sector outperform” rating in a research report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of Great-West Lifeco from C$81.00 to C$95.00 in a research note on Wednesday, July 15th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$84.55.

Great-West Lifeco Trading Down 0.2%

TSE:GWO opened at C$92.12 on Tuesday. Great-West Lifeco has a fifty-two week low of C$51.60 and a fifty-two week high of C$93.69. The company has a debt-to-equity ratio of 29.59, a current ratio of 6.57 and a quick ratio of 22.18. The stock has a market capitalization of C$82.73 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. The business’s 50-day simple moving average is C$85.71 and its 200-day simple moving average is C$73.08.

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

Insider Buying and Selling at Great-West Lifeco

In other news, Director Edmund Francis Murphy sold 40,000 shares of Great-West Lifeco stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of C$86.20, for a total value of C$3,448,000.00. Following the sale, the director directly owned 8,784 shares in the company, valued at C$757,180.80. This trade represents a 81.99% decrease in their ownership of the stock. Also, Director Mei Dong sold 39,400 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of C$76.33, for a total transaction of C$3,007,402.00. Following the completion of the sale, the director directly owned 2,721 shares in the company, valued at approximately C$207,693.93. This represents a 93.54% decrease in their position. In the last quarter, insiders have sold 119,200 shares of company stock worth $9,821,888. Corporate insiders own 70.70% of the company’s stock.

About Great-West Lifeco

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.