Power Co. of Canada (POW) Director Sells C$10,547,536.50 in Stock

Power Co. of Canada (TSE:POW) Director André Desmarais sold 346,275 shares of the business’s stock in a transaction that occurred 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, reaching C$30.63, during trading on Thursday, according to MarketBeat.com. The company had a trading volume of 634,981 shares, compared to its average volume of 770,046. Power Co. of Canada has a 12 month low of C$28.20 and a 12 month high of C$33.69.

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

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

POW has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of Power Co. of Canada from C$35.00 to C$33.00 in a report on Monday, March 19th. Desjardins decreased their price objective on shares of Power Co. of Canada from C$35.00 to C$34.00 in a report on Friday, March 2nd. CIBC cut their price target on shares of Power Co. of Canada from C$34.00 to C$33.00 in a research note on Wednesday, February 28th. BMO Capital Markets set a C$36.00 price target on shares of Power Co. of Canada and gave the company an “outperform” rating in a research note on Monday, March 26th. Finally, Royal Bank of Canada cut their price target on shares of Power Co. of Canada from C$36.00 to C$33.00 and set a “sector perform” rating on the stock in a research note on Monday, March 26th.

Power Co. of Canada Company Profile

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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