TD Securities Downgrades Genworth MI Canada (MIC) to Hold
TD Securities cut shares of Genworth MI Canada (TSE:MIC) from a buy rating to a hold rating in a research report released on Thursday morning. They currently have C$46.00 target price on the stock, up from their prior target price of C$45.00.
A number of other equities research analysts have also weighed in on MIC. National Bank Financial boosted their price objective on shares of Genworth MI Canada from C$40.00 to C$43.00 and gave the company a sector perform rating in a report on Tuesday, October 24th. CIBC downgraded shares of Genworth MI Canada from an outperform rating to a neutral rating and boosted their target price for the company from C$45.00 to C$46.00 in a research report on Monday, November 6th. Scotiabank boosted their target price on shares of Genworth MI Canada from C$40.00 to C$44.00 and gave the company a sector perform rating in a research report on Monday, November 6th. Finally, Royal Bank Of Canada downgraded shares of Genworth MI Canada from a sector perform rating to an underperform rating and boosted their target price for the company from C$40.00 to C$41.00 in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of C$44.67.
Shares of Genworth MI Canada (MIC) opened at C$42.79 on Thursday. Genworth MI Canada has a 1-year low of C$30.38 and a 1-year high of C$44.49.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 30th were given a $0.44 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.11%. Genworth MI Canada’s dividend payout ratio (DPR) is currently 30.24%.
In other news, insider Winsor James Macdonell sold 8,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of C$37.00, for a total transaction of C$296,000.00.
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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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