Genworth MI Canada Inc (MIC) Price Target Raised to C$44.00 at Scotiabank
Genworth MI Canada Inc (TSE:MIC) had its price target lifted by Scotiabank from C$40.00 to C$44.00 in a research note issued to investors on Monday. They currently have a sector perform rating on the stock.
A number of other analysts have also issued reports on the company. CIBC lowered Genworth MI Canada from an outperform rating to a neutral rating and boosted their target price for the company from C$45.00 to C$46.00 in a research report on Monday. National Bank Financial raised Genworth MI Canada from a sector perform rating to an outperform rating and boosted their target price for the company from C$43.00 to C$46.00 in a research report on Thursday, November 2nd. TD Securities boosted their target price on Genworth MI Canada from C$43.00 to C$44.00 and gave the company a buy rating in a research report on Thursday, August 3rd. BMO Capital Markets reissued an outperform rating and issued a C$43.00 target price on shares of Genworth MI Canada in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada boosted their target price on Genworth MI Canada from C$38.00 to C$40.00 and gave the company a sector perform rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Genworth MI Canada presently has a consensus rating of Hold and a consensus target price of C$44.00.
Shares of Genworth MI Canada (MIC) traded up C$0.73 during midday trading on Monday, reaching C$42.15. The company’s stock had a trading volume of 476,550 shares, compared to its average volume of 240,005. Genworth MI Canada has a 52 week low of C$28.96 and a 52 week high of C$44.18.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 30th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.76 annualized dividend and a dividend yield of 4.18%.
In related news, insider Winsor James Macdonell sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of C$37.00, for a total transaction of C$296,000.00. Also, Director Cecilia Carbonelli sold 1,275 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of C$37.41, for a total transaction of C$47,697.75. In the last 90 days, insiders sold 32,775 shares of company stock valued at $1,206,196.
About Genworth MI Canada
Genworth MI Canada Inc, through its subsidiary, Genworth Financial Mortgage Insurance Company Canada, operates as a private-sector residential mortgage insurer. The Company provides mortgage default insurance to Canadian residential mortgage lenders. It underwrites mortgage insurance for residential properties in various provinces and territories of Canada.
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