Great-West Lifeco (TSE:GWO) Reaches New 52-Week High – Should You Buy?

Shares of Great-West Lifeco Inc. (TSE:GWO) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$78.92 and last traded at C$78.15, with a volume of 1762957 shares. The stock had previously closed at C$77.75.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce raised their price target on shares of Great-West Lifeco from C$75.00 to C$81.00 in a research note on Friday, May 8th. Scotiabank raised their price target on shares of Great-West Lifeco from C$68.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. TD raised their price target on shares of Great-West Lifeco from C$73.00 to C$80.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. BMO Capital Markets raised their price target on shares of Great-West Lifeco from C$70.00 to C$76.00 in a research note on Friday, May 8th. Finally, Scotia raised their price target on shares of Great-West Lifeco from C$78.00 to C$83.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$77.18.

Great-West Lifeco Price Performance

The firm has a market capitalization of C$71.49 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 2.26 and a beta of 0.59. The company has a debt-to-equity ratio of 29.59, a quick ratio of 22.18 and a current ratio of 6.57. The business’s 50 day moving average is C$69.54 and its two-hundred day moving average is C$66.16.

Great-West Lifeco (TSE:GWO) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.37 earnings per share for the quarter. Great-West Lifeco had a net margin of 12.86% and a return on equity of 15.17%. The business had revenue of C$8.37 billion during the quarter. Equities research analysts anticipate that Great-West Lifeco Inc. will post 4.4525194 earnings per share for the current fiscal year.

Great-West Lifeco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a $0.67 dividend. The ex-dividend date was Tuesday, March 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. This is a positive change from Great-West Lifeco’s previous quarterly dividend of $0.61. Great-West Lifeco’s dividend payout ratio (DPR) is presently 53.76%.

Insider Buying and Selling

In related news, Director Mei Dong sold 39,400 shares of Great-West Lifeco stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$76.33, for a total value of C$3,007,402.00. Following the completion of the transaction, the director directly owned 2,721 shares in the company, valued at approximately C$207,693.93. The trade was a 93.54% decrease in their position. Also, insider L.P. Great-West Lifeco U.S. Holdings sold 46,413 shares of Great-West Lifeco stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of C$63.46, for a total transaction of C$2,945,368.98. 70.70% of the stock is currently owned by insiders.

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.