Power Financial’s Earnings Dip in Third Quarter
Power Financial’s operating earnings dipped in the third quarter, falling to CAD 541 million from CAD 596 million last year, as both Great-West and IGM struggled a bit. However, nothing in the quarter materially alters our long-term view, and we will maintain our CAD 32 fair value estimate and no-moat rating....Power Financial is an international management and holding company that holds interests, directly or indirectly, in companies across the financial services, communications and other business sectors. Co. has three reportable operating segments: Great-West Lifeco Inc., which offers a range of life insurance, retirement, investment products, reinsurance and specialty general insurance products; IGM Financial Inc., which offers financial planning services, investment products, investment advisory and management services; and Parjointco N.V., which include specialty minerals, water, waste services, energy, wines and spirits. As of Dec 31 2010, Co. had total assets of C$143,255,000.
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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