Deutsche Bank upgraded shares of MGIC Investment (NYSE:MTG) from a hold rating to a buy rating in a research note released on Monday, January 8th, Marketbeat Ratings reports. The firm currently has $18.00 price target on the insurance provider’s stock, up from their prior price target of $15.00.
MTG has been the topic of a number of other reports. Bank of America upped their target price on shares of MGIC Investment from $13.00 to $16.00 and gave the stock a buy rating in a research note on Friday, October 20th. MKM Partners increased their price target on shares of MGIC Investment to $16.00 and gave the company a buy rating in a research note on Thursday, October 19th. BTIG Research increased their price target on shares of MGIC Investment from $16.00 to $18.00 and gave the company a buy rating in a research note on Wednesday, December 20th. Royal Bank of Canada initiated coverage on MGIC Investment in a report on Wednesday, December 20th. They issued an outperform rating and a $18.00 price objective for the company. Finally, Wells Fargo & Co reissued a buy rating on shares of MGIC Investment in a report on Friday, December 8th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. MGIC Investment currently has an average rating of Buy and an average target price of $15.63.
Shares of MGIC Investment (MTG) opened at $15.22 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $5,490.00, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.49 and a beta of 2.29. MGIC Investment has a one year low of $9.68 and a one year high of $16.21.
MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.16. MGIC Investment had a net margin of 33.37% and a return on equity of 17.70%. The company had revenue of $271.50 million for the quarter, compared to analyst estimates of $273.66 million. During the same period in the prior year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. sell-side analysts anticipate that MGIC Investment will post 1.44 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in MGIC Investment by 125.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,190 shares of the insurance provider’s stock worth $101,000 after purchasing an additional 4,000 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in MGIC Investment during the 3rd quarter worth about $107,000. Sawgrass Asset Management LLC purchased a new stake in MGIC Investment during the 2nd quarter worth about $123,000. Arrowstreet Capital Limited Partnership purchased a new stake in MGIC Investment during the 2nd quarter worth about $132,000. Finally, Eqis Capital Management Inc. purchased a new stake in MGIC Investment during the 4th quarter worth about $144,000. Hedge funds and other institutional investors own 91.29% 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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