TSE:MIC
43.61
0.05
(0.11%)
Genworth MI Canada Inc.
MIC-T
Analysis and Opinions about MIC-T
Signal
Opinion
Expert
COMMENT
COMMENT
August 21, 2012
Luke warm. Under performing. Dividend: 5.8%. Doesn’t own it in his income portfolio.
Luke warm. Under performing. Dividend: 5.8%. Doesn’t own it in his income portfolio.
BUY
BUY
July 20, 2012
CMHC’s only competitor when it comes to providing mortgage insurance for residential housing. A number of US hedge funds are trying to find ways to short the Canadian housing market and hit upon this company. At these levels it looks very attractive. Curtailment of any type of lending to residential housing market would put pressure on this company. He doesn't think there is anything that will be scrolling Canadian housing for the next few years.
Show full opinionHide full opinionCMHC’s only competitor when it comes to providing mortgage insurance for residential housing. A number of US hedge funds are trying to find ways to short the Canadian housing market and hit upon this company. At these levels it looks very attractive. Curtailment of any type of lending to residential housing market would put pressure on this company. He doesn't think there is anything that will be scrolling Canadian housing for the next few years.
BUY
BUY
June 22, 2012
Mortgage insurance. They and CMHC control about 98%. Excellent management. Went public in July of 2009 and now trading below the original price. Good management. 3 dividend increases. Should earn between $3.10 and $3.15 this year. US parent owns 57%. Market felt the parent would sell their stake and people are waiting for the opportunity.
Show full opinionHide full opinionMortgage insurance. They and CMHC control about 98%. Excellent management. Went public in July of 2009 and now trading below the original price. Good management. 3 dividend increases. Should earn between $3.10 and $3.15 this year. US parent owns 57%. Market felt the parent would sell their stake and people are waiting for the opportunity.
TOP PICK
TOP PICK
June 11, 2012
Mortgage insurance. The average mortgage they insure is smaller than the national average. 6.3% yield.
Show full opinionHide full opinionMortgage insurance. The average mortgage they insure is smaller than the national average. 6.3% yield.
HOLD
HOLD
April 4, 2012
Insures mortgages. If there were a bust in Canada and foreclosure rates spiked, this would be in trouble. This is why the sentiment is somewhat against the company. Good yield and payout ratio is quite reasonable giving it a margin of safety.
Show full opinionHide full opinionInsures mortgages. If there were a bust in Canada and foreclosure rates spiked, this would be in trouble. This is why the sentiment is somewhat against the company. Good yield and payout ratio is quite reasonable giving it a margin of safety.
BUY
BUY
March 22, 2012
Did every thing you would have wanted. Several dividend increases. Book more than $24. Main concern is that real estate market is vulnerable to what Americans went through but he doesn’t agree. The US part of company was almost belly up a year or two. On the positive side, they have an Australian side that could be taken public to raise more money.
Show full opinionHide full opinionDid every thing you would have wanted. Several dividend increases. Book more than $24. Main concern is that real estate market is vulnerable to what Americans went through but he doesn’t agree. The US part of company was almost belly up a year or two. On the positive side, they have an Australian side that could be taken public to raise more money.
PAST TOP PICK
PAST TOP PICK
January 13, 2012
(A Top Pick Feb 18/11. Down 12.27%. (See commentary at beginning.)) Still like this one a lot. Did a special dividend and increased their dividend. Trading a good $5 below BV.
Show full opinionHide full opinion(A Top Pick Feb 18/11. Down 12.27%. (See commentary at beginning.)) Still like this one a lot. Did a special dividend and increased their dividend. Trading a good $5 below BV.
TOP PICK
TOP PICK
December 28, 2011
(A Top Pick Dec 17/10. Down 18.95%.) A mortgage insurer. Has 30% of the market with CHMC having the other 70%. Very defensive way to play Canadian housing. Just raised their dividend another 17% and paid out a $0.50 special dividend.
Show full opinionHide full opinion(A Top Pick Dec 17/10. Down 18.95%.) A mortgage insurer. Has 30% of the market with CHMC having the other 70%. Very defensive way to play Canadian housing. Just raised their dividend another 17% and paid out a $0.50 special dividend.
DON'T BUY
DON'T BUY
December 12, 2011
There is a perception that they are not setting enough aside for insurance. It is hard to prove an insurance company is under funded.
Show full opinionHide full opinionThere is a perception that they are not setting enough aside for insurance. It is hard to prove an insurance company is under funded.
BUY
BUY
November 4, 2011
5.68% bond maturing June 15/20? The only mortgage insurer outside of the government of Canada. Would definitely recommend this for a conservative investor. Looks pretty attractive.
Show full opinionHide full opinion5.68% bond maturing June 15/20? The only mortgage insurer outside of the government of Canada. Would definitely recommend this for a conservative investor. Looks pretty attractive.
DON'T BUY
DON'T BUY
November 2, 2011
Basically provides insurance on mortgages. Home affordability is poor, particularly in certain regions, which is dangerous for this company. A lot of people are being squeezed and if interest rates go up, there could be a big drop in home prices.
Show full opinionHide full opinionBasically provides insurance on mortgages. Home affordability is poor, particularly in certain regions, which is dangerous for this company. A lot of people are being squeezed and if interest rates go up, there could be a big drop in home prices.
DON'T BUY
DON'T BUY
October 17, 2011
Represents insurance against people that can't pay their mortgages. Feels it is a good company but is worried about what the naysayers say about it. He doesn't want to be on a stock where there is all this worry. Would prefer Home Capital (HCG-T) or if you want a pure dividend play, MCAN (MKP-T) would be the way to go.
Show full opinionHide full opinionRepresents insurance against people that can't pay their mortgages. Feels it is a good company but is worried about what the naysayers say about it. He doesn't want to be on a stock where there is all this worry. Would prefer Home Capital (HCG-T) or if you want a pure dividend play, MCAN (MKP-T) would be the way to go.
BUY
BUY
September 9, 2011
Mortgage insurance. Extraordinarily cheap. 4.75% dividend. Genworth (GNW-N) out of the US controls 57% of the company. Trades at 10X earnings, well below book. Investors are concerned that the problems in the US will infect the Canadian operations. He has a lot of faith in management.
Show full opinionHide full opinionMortgage insurance. Extraordinarily cheap. 4.75% dividend. Genworth (GNW-N) out of the US controls 57% of the company. Trades at 10X earnings, well below book. Investors are concerned that the problems in the US will infect the Canadian operations. He has a lot of faith in management.
COMMENT
COMMENT
July 11, 2011
Appears cheap. Their problem is twofold. 1) There is a belief that some kind of corporate action is coming that will unlock some value and take the stock higher. 2) There is a perception that they have under provided for mortgages that they are ensuring. He doesn't want to pay the price of admission to see if this is correct.
Show full opinionHide full opinionAppears cheap. Their problem is twofold. 1) There is a belief that some kind of corporate action is coming that will unlock some value and take the stock higher. 2) There is a perception that they have under provided for mortgages that they are ensuring. He doesn't want to pay the price of admission to see if this is correct.
PAST TOP PICK
PAST TOP PICK
July 8, 2011
(A Top Pick Aug 13/10. Down 10%.) Currently trading at Book. Increase or dividend twice. Over capitalized. Still likes.
Show full opinionHide full opinion(A Top Pick Aug 13/10. Down 10%.) Currently trading at Book. Increase or dividend twice. Over capitalized. Still likes.
