No Major Surprises in No-Moat Power Corp's 4Q 2017 Results
Nothing in either Great-West or IGM's results alters our long-term view of Power Corporation. We are, however, increasing our fair value estimate of no-moat Power Corporation to CAD 35 per share from 34 per share because of market appreciation in its other investments, specifically in Sagard Investment Funds.For Great-West’s full-year fiscal 2017 results, adjusted net income available to common shareholders fell just over 1% to CAD 2.6 billion from 2016 results. As a result, Great-West’s overal...
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.
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.
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