Genworth MI Canada Inc (TSE:MIC) Price Target Increased to C$39.00 by Analysts at Scotiabank
A number of other equities analysts have also recently weighed in on MIC. National Bank Financial raised their price objective on Genworth MI Canada from C$37.00 to C$40.00 and gave the company a sector perform rating in a report on Wednesday, August 2nd. CIBC raised their price objective on Genworth MI Canada from C$43.00 to C$45.00 in a report on Thursday. TD Securities raised their price objective on Genworth MI Canada from C$43.00 to C$44.00 and gave the company a buy rating in a report on Thursday. BMO Capital Markets reissued an outperform rating and set a C$43.00 price objective on shares of Genworth MI Canada in a report on Thursday. Finally, Royal Bank Of Canada raised their price objective on Genworth MI Canada from C$38.00 to C$40.00 and gave the company a sector perform rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Genworth MI Canada currently has a consensus rating of Buy and an average target price of C$41.83.
Shares of Genworth MI Canada (TSE:MIC) opened at 37.36 on Thursday. The company has a market capitalization of $3.44 billion and a PE ratio of 6.95. The stock’s 50 day moving average price is $35.15 and its 200 day moving average price is $35.09. Genworth MI Canada has a 12-month low of $27.39 and a 12-month high of $39.00.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Wednesday, August 30th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.71%.
In related news, Director Neil Reginald Parkinson purchased 4,800 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were acquired at an average cost of C$31.36 per share, with a total value of C$150,528.00. Also, Director Stuart Kendrick Levings purchased 1,552 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was bought at an average cost of C$32.21 per share, for a total transaction of C$49,989.92. Over the last three months, insiders have purchased 7,816 shares of company stock worth $250,543.
Genworth MI Canada Company Profile
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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