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

Great-West Lifeco (TSE:GWO) had its price objective raised by stock analysts at TD from C$73.00 to C$80.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD’s price objective indicates a potential upside of 4.89% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Jefferies Financial Group increased their target price on shares of Great-West Lifeco from C$70.00 to C$83.00 in a research report on Friday, May 1st. BMO Capital Markets lowered their price objective on shares of Great-West Lifeco from C$68.00 to C$66.00 and set a “market perform” rating on the stock in a research note on Friday, February 13th. Scotia lifted their price objective on shares of Great-West Lifeco from C$71.00 to C$78.00 in a research note on Wednesday, April 29th. National Bank Financial set a C$65.00 price objective on shares of Great-West Lifeco and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of Great-West Lifeco from C$67.00 to C$73.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$77.18.

Great-West Lifeco Stock Performance

Shares of GWO opened at C$76.27 on Thursday. The firm has a 50-day moving average price of C$66.82 and a 200 day moving average price of C$64.86. The firm has a market capitalization of C$68.49 billion, a PE ratio of 16.40, a P/E/G ratio of 2.26 and a beta of 0.59. 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$49.71 and a 52-week high of C$77.04.

Great-West Lifeco (TSE:GWO) last announced its earnings results on Wednesday, May 6th. The company reported C$1.37 earnings per share (EPS) for the quarter. The firm had revenue of C$8.37 billion during the quarter. Great-West Lifeco had a net margin of 12.86% and a return on equity of 15.17%. On average, sell-side analysts anticipate that Great-West Lifeco will post 4.4525194 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider L.P. Great-West Lifeco U.S. Holdings sold 46,413 shares of Great-West Lifeco stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of C$63.46, for a total value of C$2,945,368.98. Corporate insiders own 70.70% of the company’s stock.

Trending Headlines about Great-West Lifeco

Here are the key news stories impacting Great-West Lifeco this week:

• Positive Sentiment: Scotia raised its price target to C$83 and reiterated a “sector outperform” rating, signaling one of the most bullish views among the recent analyst updates. Scotia raises Great-West Lifeco price target
• Positive Sentiment: TD lifted its target to C$80 from C$73 and kept a “buy” rating, reinforcing confidence in the company’s near-term prospects. TD raises Great-West Lifeco price target
• Positive Sentiment: Canadian Imperial Bank of Commerce increased its target to C$81 from C$75, implying additional upside versus the current share price. CIBC raises Great-West Lifeco price target
• Positive Sentiment: Royal Bank of Canada, Desjardins, and Barclays all raised their targets as well, adding to the sense that analysts see more value in the stock after earnings. RBC, Desjardins, and Barclays raise Great-West Lifeco targets
• Positive Sentiment: The company’s latest quarter showed EPS of C$1.37 on revenue of C$8.37 billion, with a 10.96% net margin and 13.98% return on equity, which appears to have helped fuel the upbeat analyst revisions. Great-West Lifeco earnings report and transcript
• Neutral Sentiment: The company also announced the election of directors, which is routine governance news and likely not a major stock driver. Great West announces election of Directors

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. 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.