Shares of MGIC Investment Corporation (NYSE:MTG) have been assigned a consensus rating of “Buy” from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $12.00.
Several brokerages recently commented on MTG. BidaskClub downgraded MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BTIG Research reaffirmed a “buy” rating and set a $14.00 price objective (up previously from $12.00) on shares of MGIC Investment Corporation in a research note on Saturday, July 22nd. Deutsche Bank AG raised their price objective on MGIC Investment Corporation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, July 21st. ValuEngine raised MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research downgraded MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th.
MGIC Investment Corporation (MTG) traded down 0.44% on Friday, reaching $11.33. The company had a trading volume of 1,795,546 shares. MGIC Investment Corporation has a 12 month low of $7.43 and a 12 month high of $12.25. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 11.67 and a beta of 2.08. The firm has a 50 day moving average price of $11.54 and a 200-day moving average price of $10.88.
MGIC Investment Corporation (NYSE:MTG) last issued its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. The business had revenue of $263.31 million for the quarter, compared to the consensus estimate of $263.43 million. MGIC Investment Corporation had a return on equity of 16.56% and a net margin of 34.99%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. Analysts forecast that MGIC Investment Corporation will post $1.13 earnings per share for the current fiscal year.
WARNING: “MGIC Investment Corporation (MTG) Receives Average Rating of “Buy” from Analysts” was posted by Stock Observer and is the property of of Stock Observer. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://www.thestockobserver.com/2017/08/12/mgic-investment-corporation-mtg-receives-average-rating-of-buy-from-analysts.html.
Hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management increased its stake in MGIC Investment Corporation by 16.1% in the first quarter. LSV Asset Management now owns 12,069,926 shares of the insurance provider’s stock valued at $122,268,000 after buying an additional 1,678,249 shares in the last quarter. Heartland Advisors Inc. increased its stake in MGIC Investment Corporation by 10.0% in the first quarter. Heartland Advisors Inc. now owns 2,373,935 shares of the insurance provider’s stock valued at $24,048,000 after buying an additional 215,039 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in MGIC Investment Corporation during the first quarter valued at about $299,000. First Midwest Bank Trust Division increased its stake in MGIC Investment Corporation by 9.2% in the first quarter. First Midwest Bank Trust Division now owns 53,192 shares of the insurance provider’s stock valued at $539,000 after buying an additional 4,460 shares in the last quarter. Finally, Paragon Capital Management Ltd purchased a new stake in MGIC Investment Corporation during the first quarter valued at about $157,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.
MGIC Investment Corporation Company Profile
MGIC Investment Corporation is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. The Company provides mortgage insurance to lenders throughout the United States and to government-sponsored entities to protect against loss from defaults on low down payment residential mortgage loans.
Receive News & Ratings for MGIC Investment Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment Corporation and related companies with MarketBeat.com's FREE daily email newsletter.