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

Great-West Lifeco (TSE:GWO) had its price target lifted by TD Securities from C$53.00 to C$62.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 10.07% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Barclays increased their price objective on Great-West Lifeco from C$45.00 to C$46.00 in a research note on Monday, January 6th. Desjardins raised their price target 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. Cibc World Mkts upgraded shares of Great-West Lifeco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 6th. Scotiabank increased their target price on shares of Great-West Lifeco from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, BMO Capital Markets upped their price target on shares of Great-West Lifeco from C$52.00 to C$54.00 and gave the stock a “market perform” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$54.89.

Great-West Lifeco Stock Down 0.8 %

GWO opened at C$56.33 on Thursday. The firm has a market capitalization of C$52.44 billion, a P/E ratio of 12.89, a PEG ratio of 2.26 and a beta of 0.84. The stock has a fifty day moving average of C$52.12 and a 200-day moving average of C$49.02. Great-West Lifeco has a 12-month low of C$38.44 and a 12-month high of C$57.61.

Insider Activity

In related news, Director Edmund Francis Murphy sold 15,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of C$52.31, for a total transaction of C$784,695.00. Also, insider L.P. Great-West Lifeco U.S. Holdings sold 75,457 shares of Great-West Lifeco stock in a transaction on Monday, March 31st. The stock was sold at an average price of C$53.44, for a total transaction of C$4,032,671.09. In the last quarter, insiders have sold 144,257 shares of company stock valued at $7,640,646. 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.