MGIC Investment (NYSE:MTG)‘s stock had its “buy” rating reaffirmed by research analysts at B. Riley in a research report issued to clients and investors on Thursday. They currently have a $19.00 target price on the insurance provider’s stock. B. Riley’s target price points to a potential upside of 21.17% from the stock’s current price.
Other research analysts have also recently issued research reports about the stock. Wells Fargo & Co reissued an “outperform” rating and set a $17.00 price target on shares of MGIC Investment in a research report on Tuesday, November 28th. ValuEngine cut shares of MGIC Investment from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 10th. Barclays boosted their price target on shares of MGIC Investment from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, October 19th. Zacks Investment Research raised shares of MGIC Investment from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, October 23rd. Finally, FBR & Co reissued a “buy” rating on shares of MGIC Investment in a research report on Wednesday, October 18th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $15.63.
Shares of MGIC Investment (NYSE MTG) opened at $15.68 on Thursday. MGIC Investment has a one year low of $9.68 and a one year high of $16.21. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27. The stock has a market cap of $5,810.00, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.24 and a beta of 2.29.
MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.16. The firm had revenue of $271.50 million for the quarter, compared to analysts’ expectations of $273.66 million. MGIC Investment had a net margin of 41.08% and a return on equity of 16.41%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. sell-side analysts forecast that MGIC Investment will post 1.21 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of MTG. Janus Henderson Group PLC acquired a new position in MGIC Investment in the second quarter valued at about $45,117,000. Vanguard Group Inc. lifted its position in MGIC Investment by 9.9% in the second quarter. Vanguard Group Inc. now owns 34,753,956 shares of the insurance provider’s stock valued at $389,244,000 after buying an additional 3,120,511 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new position in MGIC Investment in the third quarter valued at about $20,412,000. APG Asset Management N.V. acquired a new position in MGIC Investment in the third quarter valued at about $15,536,000. Finally, Macquarie Group Ltd. lifted its position in MGIC Investment by 37.5% in the second quarter. Macquarie Group Ltd. now owns 4,409,393 shares of the insurance provider’s stock valued at $49,385,000 after buying an additional 1,201,682 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors.
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About MGIC Investment
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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