Insider Selling: Power Co. of Canada (TSE:POW) Director Sells 346,275 Shares of Stock

Power Co. of Canada (TSE:POW) Director André Desmarais sold 346,275 shares of the business’s stock in a transaction on Friday, May 25th. The shares were sold at an average price of C$30.46, for a total transaction of C$10,547,536.50.

Power Co. of Canada traded down C$0.11, hitting C$30.63, during midday trading on Thursday, MarketBeat Ratings reports. The company had a trading volume of 634,981 shares, compared to its average volume of 770,046. Power Co. of Canada has a 52-week low of C$28.20 and a 52-week high of C$33.69.

Power Co. of Canada (TSE:POW) last announced its earnings results on Friday, May 11th. The financial services provider reported C$1.13 earnings per share (EPS) for the quarter. Power Co. of Canada had a net margin of 8.38% and a return on equity of 14.16%. The company had revenue of C$10.86 billion during the quarter.



The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 8th will be given a $0.382 dividend. The ex-dividend date is Thursday, June 7th. This is a positive change from Power Co. of Canada’s previous quarterly dividend of $0.36. This represents a $1.53 annualized dividend and a yield of 4.99%.

A number of research analysts have recently commented on POW shares. CIBC reduced their price target on shares of Power Co. of Canada from C$34.00 to C$33.00 in a research report on Wednesday, February 28th. Desjardins reduced their price target on shares of Power Co. of Canada from C$35.00 to C$34.00 in a research report on Friday, March 2nd. BMO Capital Markets restated an “outperform” rating and set a C$36.00 price target on shares of Power Co. of Canada in a research report on Monday, March 19th. Barclays cut their target price on shares of Power Co. of Canada from C$35.00 to C$33.00 in a research report on Monday, March 19th. Finally, Royal Bank of Canada cut their target price on shares of Power Co. of Canada from C$36.00 to C$33.00 and set a “sector perform” rating for the company in a research report on Monday, March 26th.

About Power Co. of Canada

Power Corporation of Canada operates as a diversified international management and holding company with interests primarily in the financial services, sustainable and renewable energy, asset management, communications, and other business sectors in North America, Europe, and Asia. The company operates through Lifeco, IGM Financial, and Pargesa segments.

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