Morningstar - Power Corporation of Canada (POW) Continued Low Rates Reducing Upside for Power Corp.s Majority Holding Great West Lifeco

Report

Morningstar

Brett Horn

EUR 100.00 For Business Accounts Only

Continued Low Rates Reducing Upside for Power Corp.'s Majority Holding Great West Lifeco

For the third quarter, Power Corporation reported net earnings of CAD 186 million compared with CAD 470 million last year, with the fall-off due to some one-time charges and losses at Sagard. We will maintain our CAD 34 fair value estimate and no-moat rating.
Great-Westâ€™s third-quarter results showed the company continuing to build on already strong returns. Annualized adjusted return on equity of 14.7% for the quarter marked a modest improvement year over year and sequentially. Overall, the bus...

07/03/2019 13 EN

Underlying

Power Corporation of Canada

Power is a holding company with interests in companies that are active in the financial services, communications and other business sectors. Co. operates in four segments: Great-West Lifeco Inc., which offers a range of life insurance, retirement and investment products, as well as reinsurance and specialty general insurance products; IGM Financial Inc., which offers financial planning services and investment products to its client base; Parjointco N.V., which holds interests in companies based in Europe active in various sectors, including specialty minerals, water, waste services, energy, and wines and spirits; and Other, which is made up of corporate activities of Co.

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CA7392391016 Toronto Stock Exchange Canada

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Brett Horn

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Please refer to PDF document for more detail about our research: DBRS Morningstar Confirms Ratings on Power Corporation of Canada at “A” and Power Financial Corporation at A (high), Stable Trends

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Continued Low Rates Reducing Upside for Power Corp.'s Majority Holding Great West Lifeco

Power Corporation Of Canada: 1 director

Power Corporation of Canada: Rating Report

DBRS Morningstar Confirms Ratings on Power Corporation of Canada at “A” and Power Financial Corporation at A (high), Stable Trends

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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