Reaffirmed: Genworth MI Canada (TSE:MIC) “Outperform” Rating Restated by equity analysts RBC Capital Markets; $39.00 Target in Place


Genworth MI Canada (TSE:MIC) Rating Reaffirmed

Research professionals at RBC Capital Markets now has a $39.00 target price per share on Genworth MI Canada (TSE:MIC). RBC Capital Markets and their recent target price per share may imply a potential upside of 39.48% from the company’s last stock close. The rating has been disclosed to clients in an interesting research report on Tuesday morning.

From a total of 8 analysts covering Genworth MI Canada (TSE:MIC) stock, 2 rate it a ”Buy”, 1 a “Sell”, and 5 a ”Hold”. This means that 25% of the ratings are positive. The highest target price is $30.95 while the lowest target price is $23.21. The mean of all analyst targets is $26.3 with a 27.45% above today’s ($27.07) stock price. Genworth MI Canada was the topic of 9 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on December 8 with “Outperform” rating. IBC downgraded MIC stock in a recent report from November 2 to “Sector Underperformer” rating.

The stock decreased 2.94% or $0.82 on December 8, striking $27.07. Approximately 134,157 shares of stock traded hands. Genworth MI Canada Inc (TSE:MIC) has declined 20.15% since May 6, 2015 and is downtrending. It has underperformed by 19.35% the S&P500.

Reaffirmed: Genworth MI Canada (TSE:MIC)

The overall sentiment of institutions has decreased to 1.31 in Q2 2015. Its down 0.13, from 1.44 in 2015Q2. The ratio is negative, as 37 institutions have sold all the shares of Genworth MI Canada Inc that they owned while 100 funds have taken shares off the table. 50 funds have purchased shares for the first time while 130 added to their positions. These institutions now hold 66.86 million shares or 4.21% less than the 69.80 million shares they owned in 2015Q2.

The Fund Tiger Legatus Capital Management Llc currently is holding shares equating to 22.44% of its total portfolio in Genworth MI Canada Inc representing a total of 850,000 shares. Another fund,Selz Capital Llc, is holding a total of 999,703 shares equating to 20.59% of their holdings. Additionally, Brenner West Capital Advisors Llc has a 2.01 million share stake in Genworth MI Canada Inc which represents 20.24% of their total portfolio. The Fund, Yost Capital Management L.L.C., based out of Texas, has also built up a stake in the stock, which represents a total of 16.39% of their total portfolio. Finally Overbrook Management Corp, a fund which is based in the state of New York reported a total holdings of 1.08 million shares.

Genworth MI Canada Inc., is a Canada company, which through its subsidiary, Genworth Financial Mortgage Insurance Company Canada , is a private residential mortgage insurer in Canada. The company has a market cap of $2.48 billion. The Firm provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers. It has 6.65 P/E ratio. Genworth Canada underwrites mortgage insurance for residential properties in all provinces and territories of Canada.

According to Zacks Investment Research, “Macquarie owns, operate and invests in a diversified group of infrastructure businesses, which provide basic, everyday services, in the United States and other developed countries. Its initial businesses and investments consist of an airport services business (Atlantic and AvPorts), an airport parking business (PCAA and Avistar) and a district energy business (Thermal Chicago and Northwind Aladdin), a UK regulated water utility and in Macquarie Communications Infrastructure Group.” Get a free copy of the Zacks research report on Genworth MI Canada Inc (MIC).