Great West Lifeco

GWO-T

Analysis and Opinions about GWO-T

Signal
Opinion
Expert
COMMENT
COMMENT
August 24, 2015

Of the 3 Canadian lifecos, it is probably the slowest growth. Rather than looking at this company, he would be more inclined to look at Power Financial which holds this, along with IGM (IGM-T) and others.

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Of the 3 Canadian lifecos, it is probably the slowest growth. Rather than looking at this company, he would be more inclined to look at Power Financial which holds this, along with IGM (IGM-T) and others.

TOP PICK
TOP PICK
August 20, 2015

The stock is getting quite cheap on a comparative basis and has quite a good upside potential. He is going with the value stock in this sector. This is a laggard.

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The stock is getting quite cheap on a comparative basis and has quite a good upside potential. He is going with the value stock in this sector. This is a laggard.

COMMENT
COMMENT
February 6, 2015

They own a big asset manager in the US which they struggled with, but now look like they are turning it around. Also, have Irish Life in Ireland which is looking better. He prefers to get his exposure through Power Corp. (POW-T), which he expects will start increasing their dividend.

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Great West Lifeco (GWO-T)
February 6, 2015

They own a big asset manager in the US which they struggled with, but now look like they are turning it around. Also, have Irish Life in Ireland which is looking better. He prefers to get his exposure through Power Corp. (POW-T), which he expects will start increasing their dividend.

TOP PICK
TOP PICK
September 23, 2014

Excellent upside potential. Fairly close to good, solid technical support at about $30-$31. Nice rising balance sheet. This is a play on the potential for rising interest rates. Yield of 3.76%.

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Great West Lifeco (GWO-T)
September 23, 2014

Excellent upside potential. Fairly close to good, solid technical support at about $30-$31. Nice rising balance sheet. This is a play on the potential for rising interest rates. Yield of 3.76%.

WEAK BUY
WEAK BUY
June 16, 2014

It has a lot of protection from its yield. Likes lifecos in general. If we are going to see interest rates ratchet up then insurance companies will benefit. GWO-T itself is supported more by its yield than anything else and he prefers MFC-T or SLF-T. GWO-T looks expensive to him right now.

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It has a lot of protection from its yield. Likes lifecos in general. If we are going to see interest rates ratchet up then insurance companies will benefit. GWO-T itself is supported more by its yield than anything else and he prefers MFC-T or SLF-T. GWO-T looks expensive to him right now.

HOLD
HOLD
March 21, 2014

Likes the life insurance area in Canada better than the bank area because their interest-rate sensitivity is greater. When interest rates go up, they are huge beneficiaries. Also, feels they have much greater earnings growth potential. Banks have some pretty big headwinds. This lifeco is a little bit different because it recently bought Irish Life, which exposes it more to the European market. There is some confusion here, but this weekend Britain came out with some new standards as far as annuities go in England and they are a big player in that. He has seen some research reports that go both ways that it is either positive or negative for them and he is not quite sure what the answer is.

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Likes the life insurance area in Canada better than the bank area because their interest-rate sensitivity is greater. When interest rates go up, they are huge beneficiaries. Also, feels they have much greater earnings growth potential. Banks have some pretty big headwinds. This lifeco is a little bit different because it recently bought Irish Life, which exposes it more to the European market. There is some confusion here, but this weekend Britain came out with some new standards as far as annuities go in England and they are a big player in that. He has seen some research reports that go both ways that it is either positive or negative for them and he is not quite sure what the answer is.

PAST TOP PICK
PAST TOP PICK
March 14, 2014

(A Top Pick Jan 18/13. Up 25.56%.) This was cheap on a Price to Book basis. The kicker here was what happens if interest rates go up.

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(A Top Pick Jan 18/13. Up 25.56%.) This was cheap on a Price to Book basis. The kicker here was what happens if interest rates go up.

DON'T BUY
DON'T BUY
January 29, 2014

Preferred Shares Series P? This rose to about $26.50 about a year or two ago and slipped to as low as $23 and has gotten up to almost $25. These are Perpetual Preferreds and have call date in 2017 at $26, but only if Great West Life chooses to call it. Not a big fan of this kind of Preferred.

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Great West Lifeco (GWO-T)
January 29, 2014

Preferred Shares Series P? This rose to about $26.50 about a year or two ago and slipped to as low as $23 and has gotten up to almost $25. These are Perpetual Preferreds and have call date in 2017 at $26, but only if Great West Life chooses to call it. Not a big fan of this kind of Preferred.

BUY
BUY
January 9, 2014

Insurance companies do well in a rising rate environment. US 10 year rate has gone up and will continue to. GWO has a relatively cheap multiple.

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Insurance companies do well in a rising rate environment. US 10 year rate has gone up and will continue to. GWO has a relatively cheap multiple.

PAST TOP PICK
PAST TOP PICK
January 2, 2014

(Top Pick Jan 18/13, Up 33.22%) If we got a rise in interest rates, this one would get a lift.

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(Top Pick Jan 18/13, Up 33.22%) If we got a rise in interest rates, this one would get a lift.

COMMENT
COMMENT
December 5, 2013

Why is this company climbing so much faster than ManuLife (MFC-T)? If you look back pre-crash days, ManuLife was a $42-$44 stock and it really rose to the highs on the back of variable annuity growth. However, variable annuities provided a guarantee to policyholders on certain levels of payout. Ultimately, that was the noose upon which the company got hung. Response by management was to hedge the book aggressively and this has effectively insulated the company from downside but they did it at the bottom of the market. Now the upside associated with the rising capital markets is not as direct as expected, because so much of the book has been hedged. Companies that have less hedging have performed much better.

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Great West Lifeco (GWO-T)
December 5, 2013

Why is this company climbing so much faster than ManuLife (MFC-T)? If you look back pre-crash days, ManuLife was a $42-$44 stock and it really rose to the highs on the back of variable annuity growth. However, variable annuities provided a guarantee to policyholders on certain levels of payout. Ultimately, that was the noose upon which the company got hung. Response by management was to hedge the book aggressively and this has effectively insulated the company from downside but they did it at the bottom of the market. Now the upside associated with the rising capital markets is not as direct as expected, because so much of the book has been hedged. Companies that have less hedging have performed much better.

BUY
BUY
November 26, 2013

Likes it. Higher than average dividend. Earnings growth is lower than peers. But will do well going forward. He owns Power as well but not as much as GWO.

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Great West Lifeco (GWO-T)
November 26, 2013

Likes it. Higher than average dividend. Earnings growth is lower than peers. But will do well going forward. He owns Power as well but not as much as GWO.

BUY
BUY
November 25, 2013

Likes life insurance and owns through Power Financial (PWF-T). Power also has IGM and Mackenzie plus a US group. Does Europe rather than Asia, which he prefers. The most conservative of the big three lifecos.

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Great West Lifeco (GWO-T)
November 25, 2013

Likes life insurance and owns through Power Financial (PWF-T). Power also has IGM and Mackenzie plus a US group. Does Europe rather than Asia, which he prefers. The most conservative of the big three lifecos.

COMMENT
COMMENT
November 22, 2013

Great West Life (GWO-T) or Power Financial (PWF-T)? Power Financial owns Great West Life, so you get both if you own Power Financial. Have both had pretty nice moves and they have equivalent yields. They trade in a band, so you could choose either one. 10% from now he would be looking to trim as it has done quite well and is getting up there.

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Great West Lifeco (GWO-T)
November 22, 2013

Great West Life (GWO-T) or Power Financial (PWF-T)? Power Financial owns Great West Life, so you get both if you own Power Financial. Have both had pretty nice moves and they have equivalent yields. They trade in a band, so you could choose either one. 10% from now he would be looking to trim as it has done quite well and is getting up there.

DON'T BUY
DON'T BUY
November 7, 2013

Just came out with earnings and they were okay. This is a great company and has always been well run. Has always got one of the higher multiples in the sector. Of the lifecos, this is the best there is. Feels that they are just a little bit ahead of themselves. You’re better off owning banks at these levels as you get a much cheaper valuation with possibly a little better yield. Also, prospects are better down the road.

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Great West Lifeco (GWO-T)
November 7, 2013

Just came out with earnings and they were okay. This is a great company and has always been well run. Has always got one of the higher multiples in the sector. Of the lifecos, this is the best there is. Feels that they are just a little bit ahead of themselves. You’re better off owning banks at these levels as you get a much cheaper valuation with possibly a little better yield. Also, prospects are better down the road.

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