Genworth MI Canada (TSE:MIC) had its target price increased by BMO Capital Markets from C$54.00 to C$57.00 in a research note released on Thursday, BayStreet.CA reports.
Several other research analysts also recently issued reports on the company. Royal Bank of Canada upgraded Genworth MI Canada from a sector perform rating to an outperform rating and lifted their price objective for the stock from C$48.00 to C$51.00 in a research report on Tuesday, July 9th. National Bank Financial lifted their price objective on Genworth MI Canada from C$51.00 to C$53.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. Finally, CIBC upgraded Genworth MI Canada from an underperform rating to a neutral rating and lifted their price objective for the stock from C$46.00 to C$48.00 in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Genworth MI Canada presently has a consensus rating of Buy and a consensus price target of C$52.20.
Shares of MIC stock traded up C$0.32 on Thursday, reaching C$52.27. 449,489 shares of the company’s stock were exchanged, compared to its average volume of 180,238. Genworth MI Canada has a 52 week low of C$38.18 and a 52 week high of C$52.54. The company has a quick ratio of 0.20, a current ratio of 0.26 and a debt-to-equity ratio of 11.23. The company has a market cap of $4.27 billion and a PE ratio of 11.09. The business has a fifty day moving average of C$43.56.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 28th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $2.04 annualized dividend and a yield of 3.90%. Genworth MI Canada’s dividend payout ratio (DPR) is 41.57%.
In related news, Senior Officer Philip Adrian Virgil Mayers sold 6,400 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of C$41.95, for a total transaction of C$268,480.00. Following the sale, the insider now owns 20,912 shares in the company, valued at C$877,258.40.
Genworth MI Canada Company Profile
Genworth MI Canada Inc, through its subsidiaries, operates as a private residential mortgage insurer in Canada. It provides mortgage default insurance to residential mortgage homebuyers, lenders, brokers, and realtors. The company was founded in 1995 and is headquartered in Oakville, Canada.
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