MGIC Investment (MTG) Coverage Initiated by Analysts at Macquarie
Equities researchers at Macquarie began coverage on shares of MGIC Investment (NYSE:MTG) in a report issued on Wednesday, The Fly reports. The brokerage set an “outperform” rating on the insurance provider’s stock.
Other research analysts also recently issued research reports about the company. Wells Fargo & Co reaffirmed an “outperform” rating and set a $17.00 price target on shares of MGIC Investment in a research note on Tuesday, November 28th. ValuEngine downgraded MGIC Investment from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research downgraded MGIC Investment from a “buy” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada began coverage on MGIC Investment in a research note on Wednesday, December 20th. They set an “outperform” rating and a $18.00 price target for the company. Finally, BTIG Research lifted their price target on MGIC Investment from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $16.39.
MGIC Investment (NYSE:MTG) traded down $0.54 during trading on Wednesday, reaching $12.78. The company’s stock had a trading volume of 6,153,450 shares, compared to its average volume of 2,969,422. MGIC Investment has a 12 month low of $9.68 and a 12 month high of $16.21. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $4,954.72, a P/E ratio of 13.60, a P/E/G ratio of 1.33 and a beta of 2.27.
Institutional investors have recently bought and sold shares of the stock. 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. Eqis Capital Management Inc. purchased a new stake in MGIC Investment during the 4th quarter worth about $144,000. Zeke Capital Advisors LLC purchased a new stake in MGIC Investment during the 3rd quarter worth about $150,000. Finally, Signition LP purchased a new stake in MGIC Investment during the 4th quarter worth about $156,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.
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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