Desjardins Comments on Great-West Lifeco Inc.’s FY2024 Earnings (TSE:GWO)

Great-West Lifeco Inc. (TSE:GWO) – Investment analysts at Desjardins raised their FY2024 earnings per share estimates for shares of Great-West Lifeco in a research note issued on Thursday, May 2nd. Desjardins analyst D. Young now expects that the company will earn $4.28 per share for the year, up from their prior estimate of $4.18. The consensus estimate for Great-West Lifeco’s current full-year earnings is $4.20 per share.

A number of other equities analysts have also recently issued reports on the company. Royal Bank of Canada upped their target price on Great-West Lifeco from C$44.00 to C$45.00 and gave the stock a “sector perform” rating in a report on Friday, May 3rd. Scotiabank raised their price objective on shares of Great-West Lifeco from C$42.00 to C$44.00 and gave the company a “sector perform” rating in a report on Tuesday, February 6th. Jefferies Financial Group boosted their target price on shares of Great-West Lifeco from C$44.00 to C$46.00 in a report on Friday, May 3rd. CIBC raised their price target on shares of Great-West Lifeco from C$44.00 to C$46.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Finally, TD Securities reduced their price objective on shares of Great-West Lifeco from C$45.00 to C$44.00 in a research note on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Great-West Lifeco currently has an average rating of “Hold” and a consensus price target of C$44.00.

Great-West Lifeco Stock Down 1.0 %

Shares of TSE:GWO opened at C$42.89 on Monday. The company has a debt-to-equity ratio of 29.96, a quick ratio of 22.18 and a current ratio of 37.37. Great-West Lifeco has a 52-week low of C$37.06 and a 52-week high of C$45.18. The company has a market capitalization of C$40.01 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. The company has a fifty day moving average of C$41.98 and a 200-day moving average of C$42.34.

Great-West Lifeco (TSE:GWO) last announced its quarterly earnings results on Wednesday, February 14th. The company reported C$1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.99 by C$0.05. Great-West Lifeco had a net margin of 10.05% and a return on equity of 11.74%. The company had revenue of C$20.21 billion for the quarter.

Great-West Lifeco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.555 per share. The ex-dividend date is Friday, May 31st. This represents a $2.22 annualized dividend and a dividend yield of 5.18%. Great-West Lifeco’s payout ratio is 63.25%.

Insider Buying and Selling

In related news, Senior Officer Bradley John Fedorchuk sold 2,900 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of C$42.44, for a total transaction of C$123,062.08. In other news, Senior Officer Dervla Mary Tomlin sold 5,400 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of C$42.33, for a total transaction of C$228,590.10. Also, Senior Officer Bradley John Fedorchuk sold 2,900 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of C$42.44, for a total transaction of C$123,062.08. Insiders sold 13,300 shares of company stock valued at $566,402 over the last 90 days. Company insiders own 70.58% of the company’s stock.

Great-West Lifeco Company Profile

Great-West Lifeco Inc engages in the life and health insurance, retirement and investment services, asset management, and reinsurance businesses in Canada, the United States, and Europe. The company offers life, accidental death and dismemberment, disability, critical illness, health and dental protection, and creditor insurance products; and retirement and wealth savings, income and annuity products, and other specialty products to individuals, families, businesses, and organizations.