Genworth MI Canada Inc (MIC) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Genworth MI Canada Inc (TSE:MIC) have been given an average rating of “Hold” by the six analysts that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is C$39.33.
Several research firms have commented on MIC. TD Securities reiterated a “buy” rating and set a C$43.00 price target on shares of Genworth MI Canada in a report on Tuesday, February 28th. Scotiabank reiterated a “sector perform” rating and set a C$37.00 price target on shares of Genworth MI Canada in a report on Wednesday, May 3rd. National Bank Financial reiterated a “sector perform” rating and set a C$36.00 price target on shares of Genworth MI Canada in a report on Tuesday, May 2nd. CIBC boosted their price target on shares of Genworth MI Canada from C$40.00 to C$43.00 in a report on Thursday, May 4th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a C$41.00 price target on shares of Genworth MI Canada in a report on Thursday, May 4th.
In other news, Director Stuart Kendrick Levings purchased 1,552 shares of the stock in a transaction on Thursday, May 18th. The stock was bought at an average price of C$32.21 per share, for a total transaction of C$49,989.92. Also, Director Neil Reginald Parkinson purchased 4,800 shares of the stock in a transaction on Friday, June 2nd. The shares were purchased at an average price of C$31.36 per share, with a total value of C$150,528.00. Insiders have acquired a total of 7,816 shares of company stock valued at $250,543 in the last quarter.
Genworth MI Canada (TSE:MIC) traded down 1.37% during trading on Friday, hitting $36.60. 358,584 shares of the stock were exchanged. The stock has a market cap of $3.37 billion and a P/E ratio of 7.73. The stock’s 50 day moving average price is $32.61 and its 200 day moving average price is $34.76. Genworth MI Canada has a 12 month low of $27.39 and a 12 month high of $39.00.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 30th. Shareholders of record on Friday, May 12th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend was Wednesday, May 10th.
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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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