Genworth MI Canada Inc (TSE:MIC)’s share price rose 8.2% during trading on Friday after National Bank Financial upgraded the stock from a sector perform rating to an outperform rating. National Bank Financial now has a C$46.00 price target on the stock, up from their previous price target of C$43.00. Genworth MI Canada traded as high as C$41.87 and last traded at C$43.59. Approximately 774,019 shares changed hands during trading, an increase of Infinity from the average daily volume of 0 shares. The stock had previously closed at C$40.29.

Several other equities analysts have also recently commented on MIC. Royal Bank Of Canada increased 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 note on Wednesday, August 2nd. BMO Capital Markets reiterated an “outperform” rating and set a C$43.00 target price on shares of Genworth MI Canada in a research note on Thursday, August 3rd. TD Securities increased 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 note on Thursday, August 3rd. CIBC increased their target price on Genworth MI Canada from C$43.00 to C$45.00 in a research note on Thursday, August 3rd. Finally, Scotiabank increased their target price on Genworth MI Canada from C$37.00 to C$39.00 and gave the company a “sector perform” rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of C$42.83.

In related news, insider Winsor James Macdonell sold 8,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of C$38.00, for a total transaction of C$319,200.00. Also, Director Brian Leo Hurley sold 15,100 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of C$35.98, for a total value of C$543,298.00. Over the last three months, insiders have sold 32,775 shares of company stock worth $1,206,196.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 30th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.10%. The ex-dividend date is Tuesday, November 14th.

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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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