GREAT-WEST LIFECO INC. $37(Toronto symbol GWO; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 997.5 million; Market cap: $36.9 billion; Priceto- sales ratio: 0.9; Dividend Yield: 3.5%; TSINetwork Rating: Above Average; www.greatwestlifeco.com) is one of Canada’s largest insurance companies, with $1.2 trillion of assets under administration. It also offers mutual funds, retirement planning and wealth management. Power Financial (Toronto symbol PWF) owns 67.1% of Great-West.
The company continues to expand in Ireland. In 2013, it paid $1.75 billion for Irish Life Group, a major pension manager and life insurance provider. It will also soon complete its purchase of the Irish operations of Legal & General Group for an undisclosed sum. This business provides investment and tax-planning services to wealthy individuals.
Meanwhile, in the three months ended March 31, 2015, Great-West’s earnings rose 19.3%, to $700 million from $587 million a year earlier. Irish Life contributed $80 million, up from $52 million. Due to more shares outstanding, earnings per share rose 18.6%, to $0.70 from $0.59. Revenue rose 27.6%, to $12.7 billion from $9.9 billion.
The company will probably earn $2.82 a share in 2015, and the stock trades at a low 13.1 times that estimate. The $1.30 dividend yields 3.5%.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Changes to this Policy
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