Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. Great-West Lifeco Inc.
  6. News
  7. Summary
    GWO   CA39138C1068

GREAT-WEST LIFECO INC.

(GWO)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Great West Lifeco : Subsidiary to Buy Personal Capital

06/29/2020 | 08:29am EDT

By Dave Sebastian

 

Great-West Lifeco Inc.'s subsidiary Empower Retirement said it is buying the personal-wealth management company Personal Capital Corp. for an upfront consideration of $825 million.

The price entails a deferred consideration of up to $175 million over two years, subject to achieving certain milestones, Empower, a retirement-plan recordkeeping company, said Monday.

Empower said it could grow in retail advice and wealth management through the transaction. The company said it will integrate Personal Capital's technology in financial-wellness tools. Empower expects the acquisition to help it increase defined-contribution sales, managed accounts usage rates, participant engagement and the adoption of more services.

Empower said it expects to fund its upfront consideration with cash on hand and $500 million in debt financing. It sees one-time integration expenses of $57 million over 17 months, as well as transaction expenses of $28 million. The company expects the deal to close in the second half of 2020.

Separately on Monday, IGM Financial Inc., Great-West Lifeco's sister company, said it will sell its 24.8% interest in Personal Capital for $176.6 million, with an earnout of an additional $24.6 million.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
GREAT-WEST LIFECO INC. 0.28% 36.26 Delayed Quote.19.47%
IGM FINANCIAL INC. 0.49% 44.79 Delayed Quote.29.79%
All news about GREAT-WEST LIFECO INC.
05/06GREAT WEST LIFECO  : announces election of Directors
AQ
05/06GREAT WEST LIFECO  : Credit Suisse Reiterates Neutral Rating, $35 TP on Great We..
MT
05/06UPDATE ON STOCKS TO WATCH : CNQ Down Near 1%. Also Great West, Global Water Reso..
MT
05/06UPDATE ON STOCKS TO WATCH : Adds Canadian Natural Resources
MT
05/06MT NEWSWIRES STOCKS TO WATCH : Great-West Lifeco; Global Water Resources; Magna;..
MT
05/05GREAT WEST LIFECO  : reports first quarter 2021 base earnings of $739 million an..
AQ
05/05Great-West Lifeco, IGM Financial and Power Corporation of Canada contribute m..
AQ
04/30CREDIT SUISSE Q1 PREVIEW OF CANADIAN : An Improving Outlook on Positive Macro Tr..
MT
04/21GREAT WEST LIFECO  : to hold annual meeting of shareholders and release first qu..
AQ
03/18GREAT WEST LIFECO  : CEO to speak at the National Bank Financial Markets Financi..
AQ
More news
Financials
Sales 2021 66 951 M 55 101 M 55 101 M
Net income 2021 2 940 M 2 419 M 2 419 M
Net Debt 2021 - - -
P/E ratio 2021 11,5x
Yield 2021 4,83%
Capitalization 33 665 M 27 723 M 27 706 M
Capi. / Sales 2021 0,50x
Capi. / Sales 2022 0,48x
Nbr of Employees 24 500
Free-Float 26,0%
Chart GREAT-WEST LIFECO INC.
Duration : Period :
Great-West Lifeco Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GREAT-WEST LIFECO INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Average target price 37,50 CAD
Last Close Price 36,26 CAD
Spread / Highest target 10,3%
Spread / Average Target 3,42%
Spread / Lowest Target -3,47%
EPS Revisions
Managers and Directors
NameTitle
Paul Anthony Mahon Co-President, Chief Executive Officer & Director
Jeffrey F. Macoun Co-President & Chief Operating Officer
Garry MacNicholas Chief Financial Officer & Executive Vice President
Robert Jeffrey Orr Chairman
Philip Armstrong Global Chief Information Officer & Executive VP
Sector and Competitors
1st jan.Capitalization (M$)
GREAT-WEST LIFECO INC.19.47%27 723
AXA16.49%65 922
METLIFE, INC.42.60%58 934
PRUDENTIAL PLC17.22%57 477
PRUDENTIAL FINANCIAL, INC.35.71%41 776
MANULIFE FINANCIAL CORPORATION14.13%41 340