Great-West Lifeco (TSE:GWO) Stock Price Expected to Rise, CIBC Analyst Says

Great-West Lifeco (TSE:GWO) had its price target upped by equities researchers at CIBC from C$46.00 to C$51.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price objective would indicate a potential upside of 9.16% from the company’s previous close.

A number of other equities research analysts also recently weighed in on GWO. Jefferies Financial Group lifted their price objective on 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. Barclays set a C$43.00 price target on Great-West Lifeco and gave the company an “underweight” rating in a research note on Thursday, September 5th. TD Securities increased their price objective on Great-West Lifeco from C$43.00 to C$44.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Scotiabank lifted their price objective on Great-West Lifeco from C$44.00 to C$50.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, Royal Bank of Canada upped their target price on shares of Great-West Lifeco from C$45.00 to C$47.00 in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Great-West Lifeco currently has an average rating of “Hold” and a consensus price target of C$46.38.

Great-West Lifeco Price Performance

Shares of TSE:GWO opened at C$46.72 on Wednesday. The firm has a market capitalization of C$43.55 billion, a PE ratio of 11.74, a PEG ratio of 2.26 and a beta of 0.84. The company has a current ratio of 37.46, a quick ratio of 22.18 and a debt-to-equity ratio of 29.61. Great-West Lifeco has a 1-year low of C$38.12 and a 1-year high of C$47.76. The business’s 50 day moving average is C$45.71 and its 200-day moving average is C$42.64.

Great-West Lifeco (TSE:GWO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported C$1.11 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.05 by C$0.06. The firm had revenue of C$8.61 billion for the quarter, compared to the consensus estimate of C$9.83 billion. Great-West Lifeco had a net margin of 11.32% and a return on equity of 13.21%. Sell-side analysts predict that Great-West Lifeco will post 4.4525194 earnings per share for the current year.

Insider Buying and Selling

In other Great-West Lifeco news, Director Charles Donald Harvey Henaire sold 25,400 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$44.72, for a total value of C$1,135,888.00. In other news, Director Richard Henry Linton sold 35,800 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$46.27, for a total transaction of C$1,656,344.28. Also, Director Charles Donald Harvey Henaire sold 25,400 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$44.72, for a total value of C$1,135,888.00. 70.70% of the stock is owned by corporate insiders.

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.