CIBC upgraded shares of Genworth MI Canada (TSE:MIC) from an underperform rating to a neutral rating in a research report sent to investors on Wednesday, BayStreet.CA reports. The brokerage currently has C$48.00 price target on the stock, up from their prior price target of C$46.00.
Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada raised shares of Genworth MI Canada from a sector perform rating to an outperform rating and increased their target price for the stock from C$48.00 to C$51.00 in a report on Tuesday, July 9th. National Bank Financial increased their target price on shares of Genworth MI Canada from C$51.00 to C$53.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of C$52.20.
Genworth MI Canada stock opened at C$52.27 on Wednesday. The business has a 50 day moving average price of C$43.75. The stock has a market cap of $4.58 billion and a price-to-earnings ratio of 11.09. Genworth MI Canada has a 12-month low of C$38.18 and a 12-month 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 28th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Tuesday, August 13th. Genworth MI Canada’s dividend payout ratio (DPR) is currently 41.57%.
In other Genworth MI Canada news, Senior Officer Philip Adrian Virgil Mayers sold 6,400 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 20,912 shares of the company’s stock, valued at approximately 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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