Great-West Lifeco (TSE:GWO) Issues Earnings Results

Great-West Lifeco (TSE:GWO) released its earnings results on Tuesday. The company reported C$1.42 earnings per share for the quarter, FiscalAI reports. 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 for the quarter.

Great-West Lifeco Trading Up 0.0%

TSE:GWO opened at C$91.90 on Wednesday. The company has a market capitalization of C$82.53 billion, a P/E ratio of 19.76, a PEG ratio of 2.26 and a beta of 0.67. The company has a current ratio of 6.57, a quick ratio of 22.18 and a debt-to-equity ratio of 29.59. Great-West Lifeco has a 12 month low of C$51.60 and a 12 month high of C$93.69. The firm has a fifty day simple moving average of C$86.85 and a 200-day simple moving average of C$73.76.

Great-West Lifeco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.67 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $2.68 dividend on an annualized basis and a yield of 2.9%. Great-West Lifeco’s dividend payout ratio is presently 53.76%.

Wall Street Analyst Weigh In

GWO has been the topic of a number of analyst reports. Scotiabank boosted their price objective on shares of Great-West Lifeco from C$83.00 to C$95.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 15th. Desjardins upped their price target on shares of Great-West Lifeco from C$71.00 to C$80.00 and gave the company a “hold” rating in a report on Friday, May 8th. TD increased their price objective on shares of Great-West Lifeco from C$80.00 to C$98.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Barclays increased their price objective on shares of Great-West Lifeco from C$70.00 to C$73.00 in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada boosted their target price on Great-West Lifeco from C$64.00 to C$77.00 in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$86.36.

Insider Buying and Selling

In other news, insider Jean-Francois Poulin sold 20,000 shares of the business’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of C$89.55, for a total value of C$1,791,000.00. Following the completion of the transaction, the insider owned 160 shares of the company’s stock, valued at C$14,328. The trade was a 99.21% decrease in their position. Also, Director Edmund Francis Murphy sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of C$86.20, for a total value of C$3,448,000.00. Following the sale, the director directly owned 8,784 shares in the company, valued at approximately C$757,180.80. This trade represents a 81.99% decrease in their ownership of the stock. In the last quarter, insiders have sold 119,200 shares of company stock worth $9,821,888. 70.70% of the stock is owned by company 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.