Genworth MI Canada (MIC) Stock Price Down 2%
Shares of Genworth MI Canada Inc (TSE:MIC) dropped 2% during mid-day trading on Thursday . The stock traded as low as C$43.17 and last traded at C$44.30. Approximately 274,243 shares changed hands during trading, an increase of 27% from the average daily volume of 215,897 shares. The stock had previously closed at C$43.43.
MIC has been the subject of several analyst reports. National Bank Financial upped their price target on shares of Genworth MI Canada from C$40.00 to C$43.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 24th. Scotiabank upped their price target 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. CIBC downgraded shares of Genworth MI Canada from an “outperform” rating to a “neutral” rating and upped their price objective for the company from C$45.00 to C$46.00 in a research note on Monday, November 6th. Royal Bank Of Canada downgraded shares of Genworth MI Canada from a “sector perform” rating to an “underperform” rating and upped their price objective for the company from C$40.00 to C$41.00 in a research note on Monday, November 6th. Finally, TD Securities downgraded shares of Genworth MI Canada from a “buy” rating to a “hold” rating and upped their price objective for the company from C$45.00 to C$46.00 in a research note on Thursday. One 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 stock presently has a consensus rating of “Hold” and a consensus price target of C$44.67.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 30th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Tuesday, November 14th. Genworth MI Canada’s dividend payout ratio (DPR) is 30.24%.
In other news, insider Winsor James Macdonell sold 8,000 shares of the company’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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