great-west lifeco
Toronto symbol GWO, is Canada’s largest insurance company. It also provides retirement planning and wealth management services.
GREAT-WEST LIFECO $30.32 (Toronto symbol GWO; Shares outstanding: 999.3 million; Market cap: $30.5 billion; TSINetwork Rating: Above Average; Yield: 4.1%; www.greatwestlifeco.com) acquired the London Life insurance company in 1997.
In response, former London Life policyholders launched a class-action lawsuit accusing Great- West of using $220 million of London Life’s surplus funds, which they felt belonged to them, to finance the deal.
In 2010, a court ordered Great-West to pay $455.7 million in damages. The company appealed the ruling, and last year a higher court cut the award to $284.6 million.
...
In response, former London Life policyholders launched a class-action lawsuit accusing Great- West of using $220 million of London Life’s surplus funds, which they felt belonged to them, to finance the deal.
In 2010, a court ordered Great-West to pay $455.7 million in damages. The company appealed the ruling, and last year a higher court cut the award to $284.6 million.
...
iShares 1-5 Year Laddered Corporate Bond Index ETF, $19.82, symbol CBO on Toronto (Units outstanding: 93.1 million; Market cap: $1.8 billion; ca.ishares.com), invests in a portfolio of short-term bonds drawn from the DEX (formerly Scotia Capital) Bond Index. The ETF first sold units to the public at $20 each and began trading on Toronto on February 25, 2009. Its MER is 0.28%, and it currently yields 4.2%....
GREAT-WEST LIFECO $30.32 (Toronto symbol GWO; Shares outstanding: 999.3 million; Market cap: $30.5 billion; TSINetwork Rating: Above Average; Yield: 4.1%; www.greatwestlifeco.com) acquired the London Life insurance company in 1997.
In response, former London Life policyholders launched a class-action lawsuit accusing Great- West of using $220 million of London Life’s surplus funds, which they felt belonged to them, to finance the deal.
In 2010, a court ordered Great-West to pay $455.7 million in damages....
In response, former London Life policyholders launched a class-action lawsuit accusing Great- West of using $220 million of London Life’s surplus funds, which they felt belonged to them, to finance the deal.
In 2010, a court ordered Great-West to pay $455.7 million in damages....
E-L Financial Corp. Ltd., $701.13, symbol ELF on Toronto (Shares outstanding; 4.0 million; Market cap: $2.9 billion; www.empire.ca), is a holding company that owns 80% of the Empire Life Insurance Company. In addition to life insurance, Empire provides employee benefit plans and financial services. E-L also owns an investment portfolio that includes both direct investments in companies and publicly traded stocks and bonds. As well, it has a 51.38% interest in United Corporations, a closed-end investment fund (symbol UNC on Toronto). The company sold its 100% interest in the Dominion of Canada General Insurance Company, which underwrites property and casualty insurance, on November 1, 2013. That brought in cash of $1.1 billion and let E-L pay a $75 dollar-a-share special dividend....
POWER CORP. $29.88 (Toronto symbol POW; Shares outstanding: 411.4 million; Market cap: $12.2 billion; TSINetwork Rating: Above Average; Div. yield: 3.9%; www.powercorporation.com) is a diversified holding company. It holds its financial assets through 65.8%-owned Power Financial.
These financial assets include 68.1% of Great- West Lifeco, one of Canada’s largest life insurers (see column on page 9), and 58.7% of IGM Financial, a leading Canadian mutual fund provider.
Power Financial also owns 50% of holding company Parjointco, which holds 55.6% of Switzerland- listed Pargesa Holdings SA. Pargesa has 95% of its assets in five large European companies: Imerys (minerals), Total SA (oil), Pernod Ricard (wine and spirits), Suez Environnement (energy, water and waste services) and Lafarge (cement and building materials). Power Corp. also has investments in Asia.
...
These financial assets include 68.1% of Great- West Lifeco, one of Canada’s largest life insurers (see column on page 9), and 58.7% of IGM Financial, a leading Canadian mutual fund provider.
Power Financial also owns 50% of holding company Parjointco, which holds 55.6% of Switzerland- listed Pargesa Holdings SA. Pargesa has 95% of its assets in five large European companies: Imerys (minerals), Total SA (oil), Pernod Ricard (wine and spirits), Suez Environnement (energy, water and waste services) and Lafarge (cement and building materials). Power Corp. also has investments in Asia.
...
GREAT-WEST LIFECO $30.77 (Toronto symbol GWO; Shares outstanding: 999.4 million; Market cap: $30.7 billion; TSINetwork Rating: Above Average; Yield: 4.0%; www.greatwestlifeco.com) bought Irish Life Group, Ireland’s largest pension manager and life insurance provider, for $1.75 billion last year.
Excluding costs to integrate Irish Life, earnings per share rose 7.3% in the three months ended September 30, 2013, to $0.59 from $0.55 a year earlier.
The company has $705.1 billion of assets under administration.
...
Excluding costs to integrate Irish Life, earnings per share rose 7.3% in the three months ended September 30, 2013, to $0.59 from $0.55 a year earlier.
The company has $705.1 billion of assets under administration.
...
For the second consecutive year we’ve picked Bank of Nova Scotia as our #1 safety-conscious pick. We looked at a number of stocks this year, including Great-West Lifeco (see right), but Bank of Nova Scotia was still a clear choice. Its shares have dropped lately along with the market, but we think it will rebound and move higher.
BANK OF NOVA SCOTIA $60.94 (Toronto symbol BNS; Shares outstanding: 1.2 billion; Market cap: $72.9 billion; TSINetwork Rating: Above Average; Div....
BANK OF NOVA SCOTIA $60.94 (Toronto symbol BNS; Shares outstanding: 1.2 billion; Market cap: $72.9 billion; TSINetwork Rating: Above Average; Div....
This month we single out Bank of Nova Scotia as our #1 pick for 2014 (see at left). But we also considered a number of other stocks, including Great-West Lifeco.
GREAT-WEST LIFECO $30.77 (Toronto symbol GWO; Shares outstanding: 999.4 million; Market cap: $30.7 billion; TSINetwork Rating: Above Average; Yield: 4.0%; www.greatwestlifeco.com) bought Irish Life Group, Ireland’s largest pension manager and life insurance provider, for $1.75 billion last year.
Excluding costs to integrate Irish Life, earnings per share rose 7.3% in the three months ended September 30, 2013, to $0.59 from $0.55 a year earlier.
The company has $705.1 billion of assets under administration.
Great-West’s Canadian and European divisions are reporting rising profits, and Irish Life is already adding to its earnings.
The U.S....
GREAT-WEST LIFECO $30.77 (Toronto symbol GWO; Shares outstanding: 999.4 million; Market cap: $30.7 billion; TSINetwork Rating: Above Average; Yield: 4.0%; www.greatwestlifeco.com) bought Irish Life Group, Ireland’s largest pension manager and life insurance provider, for $1.75 billion last year.
Excluding costs to integrate Irish Life, earnings per share rose 7.3% in the three months ended September 30, 2013, to $0.59 from $0.55 a year earlier.
The company has $705.1 billion of assets under administration.
Great-West’s Canadian and European divisions are reporting rising profits, and Irish Life is already adding to its earnings.
The U.S....
BCE INC., $46.58, Toronto symbol BCE, reported higher-than-expected earnings and raised its dividend this week. In the three months ended December 31, 2013, the company’s earnings rose 16.4%, to $540 million, or $0.70 a share. These figures exclude unusual items, such as costs to integrate recently acquired broadcaster Astral Media. On that basis, BCE’s earnings beat the consensus estimate of $0.69 a share. A year earlier, it earned $464 million, or $0.60 a share. Revenue rose 4.3%, to $5.4 billion from $5.2 billion. In addition to Astral’s contribution, the company is attracting more wireless, high-speed Internet and digital TV customers. That’s helping offset lower revenue from traditional phones....
POWER CORP. $29.88 (Toronto symbol POW; Shares outstanding: 411.4 million; Market cap: $12.2 billion; TSINetwork Rating: Above Average; Div. yield: 3.9%; www.powercorporation.com) is a diversified holding company. It holds its financial assets through 65.8%-owned Power Financial.
These financial assets include 68.1% of Great- West Lifeco, one of Canada’s largest life insurers (see column on page 9), and 58.7% of IGM Financial, a leading Canadian mutual fund provider.
Power Financial also owns 50% of holding company Parjointco, which holds 55.6% of Switzerland- listed Pargesa Holdings SA....
These financial assets include 68.1% of Great- West Lifeco, one of Canada’s largest life insurers (see column on page 9), and 58.7% of IGM Financial, a leading Canadian mutual fund provider.
Power Financial also owns 50% of holding company Parjointco, which holds 55.6% of Switzerland- listed Pargesa Holdings SA....