Great-West Lifeco (TSE:GWO) Price Target Raised to C$53.00

Great-West Lifeco (TSE:GWO) had its price target raised by Royal Bank of Canada from C$51.00 to C$53.00 in a report issued on Friday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Several other research firms have also commented on GWO. Barclays upped their target price on Great-West Lifeco from C$45.00 to C$46.00 in a report on Monday, January 6th. TD Securities upgraded shares of Great-West Lifeco from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$49.00 to C$53.00 in a research report on Friday. Scotiabank upgraded Great-West Lifeco from a “hold” rating to a “strong-buy” rating in a report on Monday, February 3rd. CIBC increased their price target on shares of Great-West Lifeco from C$55.00 to C$56.00 in a research note on Thursday, January 30th. Finally, Jefferies Financial Group upped their price target on shares of Great-West Lifeco from C$42.00 to C$48.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$52.22.

Great-West Lifeco Stock Down 1.3 %

Shares of GWO opened at C$51.71 on Friday. The company has a quick ratio of 22.18, a current ratio of 37.46 and a debt-to-equity ratio of 29.61. Great-West Lifeco has a fifty-two week low of C$38.44 and a fifty-two week high of C$52.47. The company’s fifty day moving average is C$47.35 and its two-hundred day moving average is C$46.13. The firm has a market cap of C$48.20 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84.

Great-West Lifeco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Tuesday, December 3rd. Great-West Lifeco’s dividend payout ratio is currently 55.78%.

Insider Buying and Selling

In other Great-West Lifeco news, Senior Officer Colleen Nancy Bailey Moffitt sold 825 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of C$49.11, for a total value of C$40,515.75. Following the transaction, the insider now directly owns 66 shares of the company’s stock, valued at C$3,241.26. This trade represents a 92.59 % decrease in their position. Also, Senior Officer David Martin Harney sold 562 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of C$47.55, for a total transaction of C$26,721.58. In 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.