CIBC Issues Positive Forecast for Great-West Lifeco (TSE:GWO) Stock Price

Great-West Lifeco (TSE:GWO) had its target price hoisted by CIBC from C$46.00 to C$51.00 in a report published on Wednesday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also recently commented on GWO. 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. Barclays set a C$43.00 target price on Great-West Lifeco and gave the company an “underweight” rating in a research report on Thursday, September 5th. Scotiabank raised their price objective on Great-West Lifeco from C$44.00 to C$50.00 and gave the stock a “sector perform” rating in a research note on Wednesday. TD Securities increased their target price on shares of Great-West Lifeco from C$43.00 to C$44.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. 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 stock a “hold” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Great-West Lifeco has an average rating of “Hold” and an average price target of C$46.38.

Great-West Lifeco Stock Performance

Shares of GWO opened at C$46.86 on Wednesday. Great-West Lifeco has a one year low of C$38.44 and a one year high of C$47.76. The business has a fifty day moving average of C$45.78 and a 200 day moving average of C$42.68. 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 firm has a market capitalization of C$43.68 billion, a P/E ratio of 11.77, a PEG ratio of 2.26 and a beta of 0.84.

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

Great-West Lifeco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were issued a $0.555 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.22 dividend on an annualized basis and a yield of 4.74%. Great-West Lifeco’s dividend payout ratio is currently 55.78%.

Insiders Place Their Bets

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

Great-West Lifeco Company Profile

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.