Power Gets a Pop From Sagard in 1Q
Nothing in no-moat Power Corporation’s first quarter alters our long-term view, although its Sagard investments recorded a strong $227 million gain, primarily in Europe. We will maintain our CAD 35 fair value estimate.Great-West saw net income improving to $731 million from $591 million last year. However, stripping out the impact of tax reform and other one-item items, adjusted annualized return on equity held steady at 14%, suggesting underlying results remain stable. Canada saw a fairly stro...
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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