Jefferies Financial Group Forecasts Strong Price Appreciation for Great-West Lifeco (TSE:GWO) Stock

Great-West Lifeco (TSE:GWO) had its price target upped by investment analysts at Jefferies Financial Group from C$51.00 to C$58.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 2.96% from the company’s previous close.

A number of other equities research analysts have also issued reports on GWO. Desjardins raised their price target on shares of Great-West Lifeco from C$49.00 to C$53.00 and gave the stock a “hold” rating in a report on Friday, February 7th. Cibc World Mkts raised Great-West Lifeco from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 6th. Barclays upped their price target on Great-West Lifeco from C$45.00 to C$46.00 in a research report on Monday, January 6th. Scotiabank lifted their price objective on Great-West Lifeco from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, CIBC upgraded Great-West Lifeco from a “neutral” rating to an “outperform” rating and upped their target price for the company from C$56.00 to C$60.00 in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$54.89.

Great-West Lifeco Stock Performance

Shares of GWO stock opened at C$56.33 on Thursday. The company has a market capitalization of C$52.44 billion, a P/E ratio of 12.89, a PEG ratio of 2.26 and a beta of 0.84. Great-West Lifeco has a fifty-two week low of C$38.44 and a fifty-two week high of C$57.61. The stock has a 50 day moving average price of C$52.12 and a two-hundred day moving average price of C$49.02.

Insider Transactions at Great-West Lifeco

In other Great-West Lifeco news, Director Charles Donald Harvey Henaire sold 26,100 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of C$53.00, for a total value of C$1,383,300.00. Also, insider L.P. Great-West Lifeco U.S. Holdings sold 75,457 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of C$53.44, for a total value of C$4,032,671.09. Insiders have sold 144,257 shares of company stock valued at $7,640,646 in the last three months. 70.70% of the stock is currently owned by company 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.