Power Corp. of Canada, 2018 Earnings & Price Target Update
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Power Corporation (POW) is a diversified international management and holding company with interests in companies in the financial services, asset management, sustainable and renewable energy, communications and other business sectors. Approximately 40% of assets are from each of Canada and Europe, US-8% and other at 2%. Total assets as of Dec-31-2018 were $452B. The largest segments of Power Corps.(POW) asset are from ownership interests in Great-West Life(GWO-TSX), through Power Financial Corp.(PWF-TSX) and segregated funds held in subsidiaries. Approximately 70% of assets in Power Financial Corp. with the balance held in Pargesa Holdings for European holdings and Sagard Investments, a private equity company.
Power Corp.(POW) owns a 65.5% controlling interest in Power Financial Corp. (PWF-TSX). Power Financial Corp owns 67.8% of Great-West Lifeco(GWO), 61.4% IGM Financial(IGM), and 27.8% of Pargesa Group(PARG-SWX ) and 100% of Sagard Holdings, as well as Power Energy Corp. and China Asset Management.
Great-West Lifeco operating subsidiaries are Great-West Life, Great-West Financial, London Life, Canada Life, Irish Life and Putnam in the US. Great-West Life(GWO) owns 4% of IGM Financial(IGM)
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