Great-West Lifeco (TSE:GWO) Price Target Cut to C$57.00 by Analysts at CIBC

Great-West Lifeco (TSE:GWO) had its price target lowered by investment analysts at CIBC from C$60.00 to C$57.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price objective suggests a potential upside of 9.91% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. 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. Royal Bank of Canada set a C$53.00 price objective on shares of Great-West Lifeco and gave the company a “sector perform” rating in a research report on Tuesday, April 15th. TD Securities lifted their target price on shares of Great-West Lifeco from C$53.00 to C$62.00 and gave the stock a “buy” rating in a research report on Thursday, April 3rd. Jefferies Financial Group reduced their price objective on Great-West Lifeco from C$58.00 to C$57.00 in a research report on Monday, April 21st. Finally, Scotiabank boosted their target price on shares of Great-West Lifeco from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Great-West Lifeco has an average rating of “Hold” and a consensus target price of C$56.00.

Great-West Lifeco Price Performance

GWO stock opened at C$51.86 on Thursday. The stock has a market capitalization of C$48.28 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.26 and a beta of 0.84. Great-West Lifeco has a 1-year low of C$38.44 and a 1-year high of C$57.61. The business has a fifty day moving average price of C$53.20 and a 200-day moving average price of C$49.95.

Insider Activity at Great-West Lifeco

In other Great-West Lifeco news, insider L.P. Great-West Lifeco U.S. Holdings sold 75,457 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of C$53.44, for a total transaction of C$4,032,671.09. Also, Director Charles Donald Harvey Henaire sold 26,100 shares of Great-West Lifeco 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 transaction of C$1,383,300.00. In the last quarter, insiders have sold 144,257 shares of company stock worth $7,640,646. 70.70% of the stock is owned by corporate insiders.

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.