Great-West Lifeco (TSE:GWO) Price Target Raised to C$60.00

Great-West Lifeco (TSE:GWO) had its price objective raised by research analysts at Scotiabank from C$59.00 to C$60.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 17.16% from the company’s current price.

A number of other brokerages have also recently commented on GWO. TD Securities upgraded Great-West Lifeco from a “hold” rating to a “buy” rating and increased their price target for the company from C$49.00 to C$53.00 in a research note on Friday. Royal Bank of Canada lifted their target price on shares of Great-West Lifeco from C$51.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Friday. CIBC upgraded shares of Great-West Lifeco from a “neutral” rating to an “outperform” rating and upped their price target for the company from C$56.00 to C$60.00 in a research report on Friday. BMO Capital Markets raised their target price on Great-West Lifeco from C$52.00 to C$54.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Barclays upped their price target on Great-West Lifeco from C$45.00 to C$46.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$52.22.

Great-West Lifeco Stock Performance

GWO stock traded down C$1.18 during midday trading on Friday, reaching C$51.21. 486,136 shares of the company were exchanged, compared to its average volume of 1,595,915. The firm has a market capitalization of C$47.73 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84. The company has a debt-to-equity ratio of 29.61, a current ratio of 37.46 and a quick ratio of 22.18. The business has a 50-day moving average price of C$47.33 and a two-hundred day moving average price of C$46.01. Great-West Lifeco has a one year low of C$38.44 and a one year high of C$52.47.

Great-West Lifeco (TSE:GWO) last announced its earnings results on Wednesday, November 6th. The company reported C$1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.08 by C$0.06. Great-West Lifeco had a net margin of 11.32% and a return on equity of 13.21%. During the same quarter last year, the firm posted $1.00 EPS. Equities research analysts forecast that Great-West Lifeco will post 4.4525194 EPS for the current year.

Insider Buying and Selling at Great-West Lifeco

In related news, Director Paul Mahon sold 146,826 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$49.88, for a total transaction of C$7,323,842.39. Also, Director Charles Donald Harvey Henaire sold 26,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of C$49.50, for a total transaction of C$1,306,800.00. Over the last ninety days, insiders sold 174,613 shares of company stock valued at $8,697,880. Company insiders own 70.70% of the company’s stock.

About Great-West Lifeco

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.