Great-West Lifeco (TSE:GWO) Price Target Raised to C$62.00

Great-West Lifeco (TSE:GWO) had its price objective hoisted by analysts at TD Securities from C$53.00 to C$62.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target points to a potential upside of 9.25% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. CIBC raised Great-West Lifeco from a “neutral” rating to an “outperform” rating and upped their target price for the stock from C$56.00 to C$60.00 in a report on Friday, February 7th. Barclays upped their price objective on Great-West Lifeco from C$45.00 to C$46.00 in a research note on Monday, January 6th. Royal Bank of Canada upped their price target on Great-West Lifeco from C$51.00 to C$53.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Cibc World Mkts raised Great-West Lifeco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 6th. Finally, Scotiabank upped their target price on Great-West Lifeco from C$59.00 to C$60.00 and gave the company an “outperform” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$54.89.

Great-West Lifeco Stock Performance

Shares of GWO traded down C$0.72 during mid-day trading on Thursday, reaching C$56.75. The company had a trading volume of 507,661 shares, compared to its average volume of 3,083,632. The company has a market capitalization of C$52.83 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 2.26 and a beta of 0.84. The company’s 50 day simple moving average is C$51.72 and its 200 day simple moving average is C$48.86. Great-West Lifeco has a 1-year low of C$38.44 and a 1-year high of C$57.61.

Insider Buying and Selling

In related news, insider L.P. Great-West Lifeco U.S. Holdings sold 75,457 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of C$53.44, for a total value of C$4,032,671.09. Also, Senior Officer Linda Kerrigan sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of C$51.64, for a total value of C$438,927.25. In the last three months, insiders have sold 144,257 shares of company stock valued at $7,640,646. 70.70% of the stock is 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.