MGIC Investment (NYSE:MTG)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a research report issued on Sunday. They presently have a $18.00 price objective on the insurance provider’s stock. BTIG Research’s target price points to a potential upside of 69.65% from the company’s current price.

MTG has been the topic of a number of other research reports. ValuEngine downgraded shares of MGIC Investment from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 10th. Deutsche Bank cut their target price on shares of MGIC Investment from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, April 10th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $16.00 target price on shares of MGIC Investment in a research report on Tuesday, April 10th. Wells Fargo reissued a “buy” rating on shares of MGIC Investment in a research report on Thursday, February 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $20.00 target price (up previously from $12.00) on shares of MGIC Investment in a research report on Tuesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. MGIC Investment has an average rating of “Buy” and an average target price of $15.87.

MTG stock opened at $10.61 on Friday. The stock has a market capitalization of $3,934.85, a P/E ratio of 7.80, a P/E/G ratio of 1.09 and a beta of 1.95. MGIC Investment has a 12 month low of $10.03 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.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Wednesday, April 18th. The insurance provider reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The company had revenue of $265.80 million for the quarter, compared to the consensus estimate of $273.94 million. MGIC Investment had a net margin of 38.25% and a return on equity of 17.62%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS. equities research analysts expect that MGIC Investment will post 1.39 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. First Mercantile Trust Co. grew its position in shares of MGIC Investment by 6.4% in the 4th quarter. First Mercantile Trust Co. now owns 59,203 shares of the insurance provider’s stock worth $836,000 after buying an additional 3,540 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of MGIC Investment by 125.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,190 shares of the insurance provider’s stock worth $101,000 after buying an additional 4,000 shares during the last quarter. Advisors Capital Management LLC grew its position in shares of MGIC Investment by 1.6% in the 4th quarter. Advisors Capital Management LLC now owns 281,159 shares of the insurance provider’s stock worth $3,967,000 after buying an additional 4,323 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of MGIC Investment by 4.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 119,501 shares of the insurance provider’s stock worth $1,686,000 after buying an additional 4,759 shares during the last quarter. Finally, Advisor Group Inc. grew its position in shares of MGIC Investment by 54.3% in the 4th quarter. Advisor Group Inc. now owns 15,266 shares of the insurance provider’s stock worth $215,000 after buying an additional 5,374 shares during the last quarter. 91.95% of the stock is currently owned by hedge funds and other institutional investors.

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MGIC Investment Company Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the United States. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.

Analyst Recommendations for MGIC Investment (NYSE:MTG)

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