Great-West Lifeco (TSE:GWO) Given New C$67.00 Price Target at CIBC

Great-West Lifeco (TSE:GWO) had its target price raised by CIBC from C$65.00 to C$67.00 in a research note published on Friday morning,BayStreet.CA reports.

Several other research analysts have also issued reports on GWO. BMO Capital Markets raised their price target on Great-West Lifeco from C$55.00 to C$56.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. UBS Group raised Great-West Lifeco to a “strong-buy” rating in a research note on Thursday, October 16th. Barclays boosted their target price on Great-West Lifeco from C$58.00 to C$59.00 in a research report on Thursday. TD Securities increased their price target on shares of Great-West Lifeco from C$66.00 to C$70.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Scotiabank boosted their price objective on shares of Great-West Lifeco from C$59.00 to C$61.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Great-West Lifeco presently has a consensus rating of “Moderate Buy” and an average target price of C$60.22.

Great-West Lifeco Price Performance

Shares of GWO stock traded down C$0.98 during trading hours on Friday, reaching C$59.90. 1,050,233 shares of the company were exchanged, compared to its average volume of 2,580,927. Great-West Lifeco has a fifty-two week low of C$44.89 and a fifty-two week high of C$61.39. The stock’s fifty day moving average is C$56.75 and its two-hundred day moving average is C$53.76. The company has a market cap of C$55.13 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 2.26 and a beta of 0.63.

Great-West Lifeco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 29th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, August 29th. Great-West Lifeco’s dividend payout ratio (DPR) is presently 55.34%.

Great-West Lifeco announced that its board has approved a stock repurchase plan on Tuesday, August 5th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.