MGIC Investment (NYSE:MTG) had its price target boosted by BTIG Research from $16.00 to $18.00 in a report released on Wednesday, December 20th, Marketbeat reports. The brokerage currently has a buy rating on the insurance provider’s stock.
Several other research analysts have also issued reports on MTG. Zacks Investment Research lowered MGIC Investment from a buy rating to a hold rating in a research note on Wednesday, October 4th. MKM Partners increased their target price on MGIC Investment to $16.00 and gave the stock a buy rating in a report on Thursday, October 19th. FBR & Co restated a buy rating on shares of MGIC Investment in a report on Wednesday, October 18th. Compass Point restated a buy rating and set a $15.25 target price (up previously from $13.00) on shares of MGIC Investment in a report on Wednesday, October 11th. Finally, B. Riley restated a buy rating on shares of MGIC Investment in a report on Monday, November 6th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $15.35.
Shares of MGIC Investment (MTG) traded up $0.44 during midday trading on Wednesday, hitting $15.18. The company had a trading volume of 2,801,097 shares, compared to its average volume of 2,462,487. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $5,560.00, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 1.29 and a beta of 2.29. MGIC Investment has a twelve month low of $9.68 and a twelve month high of $15.64.
MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, October 18th. The insurance provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. MGIC Investment had a return on equity of 16.41% and a net margin of 41.08%. The business had revenue of $270.30 million during the quarter, compared to analyst estimates of $267.85 million. During the same period in the prior year, the company posted $0.14 earnings per share. MGIC Investment’s revenue was down 1.3% on a year-over-year basis. equities analysts anticipate that MGIC Investment will post 1.21 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of MTG. AJO LP bought a new position in MGIC Investment during the second quarter worth about $54,935,000. Janus Henderson Group PLC acquired a new stake in shares of MGIC Investment during the second quarter worth about $45,117,000. Vanguard Group Inc. raised its position in shares of MGIC Investment by 9.9% during the second quarter. Vanguard Group Inc. now owns 34,753,956 shares of the insurance provider’s stock worth $389,244,000 after purchasing an additional 3,120,511 shares during the period. Westfield Capital Management Co. LP raised its position in shares of MGIC Investment by 98.6% during the second quarter. Westfield Capital Management Co. LP now owns 4,238,647 shares of the insurance provider’s stock worth $47,473,000 after purchasing an additional 2,104,047 shares during the period. Finally, Monarch Partners Asset Management LLC acquired a new stake in shares of MGIC Investment during the third quarter worth about $20,412,000. Hedge funds and other institutional investors own 91.11% of the company’s stock.
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MGIC Investment 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.
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