Royal Bank Of Canada Issues Positive Forecast for Great-West Lifeco (TSE:GWO) Stock Price

Great-West Lifeco (TSE:GWO) had its price target raised by research analysts at Royal Bank Of Canada from C$53.00 to C$60.00 in a report issued on Monday,BayStreet.CA reports. Royal Bank Of Canada’s price objective suggests a potential downside of 0.02% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Barclays raised their target price on shares of Great-West Lifeco from C$58.00 to C$59.00 in a research note on Thursday. Desjardins raised their price objective on Great-West Lifeco from C$55.00 to C$60.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. BMO Capital Markets boosted their target price on Great-West Lifeco from C$55.00 to C$56.00 and gave the stock a “market perform” rating in a report on Thursday, August 7th. National Bankshares raised their price target on Great-West Lifeco from C$58.00 to C$59.00 in a report on Thursday. Finally, UBS Group upgraded shares of Great-West Lifeco to a “strong-buy” rating in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Great-West Lifeco has an average rating of “Moderate Buy” and a consensus price target of C$62.11.

Great-West Lifeco Stock Up 0.2%

Shares of TSE:GWO traded up C$0.11 during midday trading on Monday, reaching C$60.01. The company’s stock had a trading volume of 402,605 shares, compared to its average volume of 2,570,603. The firm has a 50 day moving average of C$56.75 and a 200-day moving average of C$53.78. The firm has a market capitalization of C$55.23 billion, a P/E ratio of 13.92, a PEG ratio of 2.26 and a beta of 0.63. Great-West Lifeco has a 12-month low of C$44.89 and a 12-month high of C$61.39.

Great-West Lifeco announced that its Board of Directors has initiated a stock buyback program on Tuesday, August 5th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

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.