TD Securities Increases Great-West Lifeco (TSE:GWO) Price Target to C$62.00

Great-West Lifeco (TSE:GWO) had its price objective lifted by equities research analysts at TD Securities from C$53.00 to C$62.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 9.25% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. BMO Capital Markets upped their price objective on shares of Great-West Lifeco from C$52.00 to C$54.00 and gave the company a “market perform” rating in a report on Friday, February 7th. Cibc World Mkts upgraded shares of Great-West Lifeco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 6th. Scotiabank increased their price objective on Great-West Lifeco from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. CIBC upgraded Great-West Lifeco from a “neutral” rating to an “outperform” rating and upped their price target for the company from C$56.00 to C$60.00 in a research report on Friday, February 7th. Finally, Royal Bank of Canada increased their price target on shares of Great-West Lifeco from C$51.00 to C$53.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Great-West Lifeco currently has a consensus rating of “Hold” and a consensus price target of C$54.89.

Great-West Lifeco Stock Down 1.3 %

Great-West Lifeco stock traded down C$0.72 during trading on Thursday, hitting C$56.75. The stock had a trading volume of 507,661 shares, compared to its average volume of 3,083,632. The stock’s 50 day moving average is C$51.72 and its two-hundred day moving average is C$48.86. Great-West Lifeco has a 1 year low of C$38.44 and a 1 year high of C$57.61. The stock has a market cap of C$52.83 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84.

Insiders Place Their Bets

In other news, Director Charles Donald Harvey Henaire sold 26,100 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of C$53.00, for a total value of C$1,383,300.00. Also, Director Christine Marie Moritz sold 4,700 shares of Great-West Lifeco stock in a transaction on Friday, February 7th. The stock was sold at an average price of C$52.09, for a total transaction of C$244,827.70. Insiders sold a total of 144,257 shares of company stock valued at $7,640,646 over the last 90 days. Insiders own 70.70% of the company’s stock.

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.