Brokerages Set Genworth MI Canada Inc (MIC) Price Target at $46.50
Shares of Genworth MI Canada Inc (TSE:MIC) have been assigned an average rating of “Hold” from the six analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$46.50.
MIC has been the subject of a number of recent analyst reports. National Bank Financial increased their price target on shares of Genworth MI Canada from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. BMO Capital Markets increased their price target on shares of Genworth MI Canada from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Scotiabank increased their price target on shares of Genworth MI Canada from C$44.00 to C$46.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Royal Bank of Canada cut shares of Genworth MI Canada from a “sector perform” rating to an “underperform” rating and increased their price target for the company from C$40.00 to C$41.00 in a research note on Monday, November 6th. Finally, TD Securities cut shares of Genworth MI Canada from a “buy” rating to a “hold” rating and increased their price target for the company from C$45.00 to C$46.00 in a research note on Thursday, December 7th.
Genworth MI Canada (TSE:MIC) traded up C$0.23 during trading on Wednesday, reaching C$39.05. 89,201 shares of the company were exchanged, compared to its average volume of 177,036. The company has a market capitalization of $3,530.00, a P/E ratio of 6.79 and a beta of 1.64. Genworth MI Canada has a 1-year low of C$30.38 and a 1-year high of C$44.49.
In other news, insider Robert John Piroli sold 648 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of C$40.79, for a total transaction of C$26,431.92. Also, Director Brian Leo Hurley sold 78,700 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of C$41.38, for a total transaction of C$3,256,606.00. In the last 90 days, insiders have sold 79,781 shares of company stock valued at $3,301,064.
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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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