Great-West Lifeco (TSE:GWO) Price Target Raised to C$97.00 at Canadian Imperial Bank of Commerce

Great-West Lifeco (TSE:GWO) had its price target boosted by investment analysts at Canadian Imperial Bank of Commerce from C$95.00 to C$97.00 in a report released on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price points to a potential upside of 5.52% from the company’s previous close.

Several other brokerages have also commented on GWO. Scotiabank raised their price objective on Great-West Lifeco from C$83.00 to C$95.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 15th. Royal Bank Of Canada increased their target price on Great-West Lifeco from C$64.00 to C$77.00 in a research report on Friday, May 8th. National Bank Financial boosted their price target on shares of Great-West Lifeco from C$93.00 to C$95.00 and gave the stock a “sector perform” rating in a report on Wednesday. Barclays increased their price objective on shares of Great-West Lifeco from C$86.00 to C$87.00 in a report on Wednesday. Finally, Desjardins boosted their target price on shares of Great-West Lifeco from C$71.00 to C$80.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Great-West Lifeco currently has a consensus rating of “Moderate Buy” and a consensus price target of C$93.27.

Great-West Lifeco Price Performance

Shares of GWO stock traded up C$1.50 during mid-day trading on Thursday, hitting C$91.93. 350,502 shares of the stock were exchanged, compared to its average volume of 1,620,427. The firm has a fifty day moving average of C$87.08 and a 200 day moving average of C$73.92. The company has a quick ratio of 22.18, a current ratio of 6.57 and a debt-to-equity ratio of 29.59. Great-West Lifeco has a 52-week low of C$51.60 and a 52-week high of C$93.69. The company has a market cap of C$82.56 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67.

Great-West Lifeco (TSE:GWO) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C$1.42 earnings per share for the quarter. Great-West Lifeco had a return on equity of 15.17% and a net margin of 12.86%.The firm had revenue of C$8.35 billion during the quarter. Research analysts anticipate that Great-West Lifeco will post 4.4525194 earnings per share for the current year.

Insider Activity

In other Great-West Lifeco news, Director Edmund Francis Murphy sold 40,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of C$86.20, for a total value of C$3,448,000.00. Following the completion of the sale, the director owned 8,784 shares in the company, valued at approximately C$757,180.80. This represents a 81.99% decrease in their position. Also, Director Mei Dong sold 39,400 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$76.33, for a total transaction of C$3,007,402.00. Following the completion of the transaction, the director directly owned 2,721 shares in the company, valued at C$207,693.93. This trade represents a 93.54% decrease in their ownership of the stock. Insiders sold 119,200 shares of company stock worth $9,821,888 over the last three months. Insiders own 70.70% of the company’s stock.

Great-West Lifeco Company Profile

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. In 2020, Great-West announced it would acquire Personal Capital and MassMutual’s recordkeeping business. In Europe, Great-West offers life insurance, annuities, and reinsurance primarily in the U.K., Ireland, and Germany.