MGIC Investment Corp. (NYSE:MTG) has earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $16.81.

Separately, Zacks Investment Research lowered shares of Heritage Insurance from a “hold” rating to a “strong sell” rating in a report on Friday, April 26th.

Shares of MTG stock traded up $0.25 during trading hours on Friday, hitting $13.46. 227,394 shares of the company’s stock traded hands, compared to its average volume of 6,490,531. The stock has a fifty day moving average price of $13.67. MGIC Investment has a 12-month low of $9.41 and a 12-month high of $14.97. The firm has a market cap of $4.72 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 1.64 and a beta of 1.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37.

MGIC Investment (NYSE:MTG) last released its earnings results on Tuesday, April 23rd. The insurance provider reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.04. MGIC Investment had a net margin of 59.01% and a return on equity of 19.06%. The firm had revenue of $291.65 million during the quarter, compared to analyst estimates of $286.01 million. During the same period last year, the business earned $0.38 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that MGIC Investment will post 1.65 earnings per share for the current year.

MGIC Investment announced that its board has approved a share repurchase program on Wednesday, March 20th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

A number of large investors have recently bought and sold shares of MTG. Fox Run Management L.L.C. purchased a new position in shares of MGIC Investment during the 2nd quarter valued at $312,000. Foothills Asset Management Ltd. lifted its stake in MGIC Investment by 100.0% in the 2nd quarter. Foothills Asset Management Ltd. now owns 21,538 shares of the insurance provider’s stock worth $283,000 after purchasing an additional 10,769 shares in the last quarter. First Hawaiian Bank lifted its stake in MGIC Investment by 14.9% in the 2nd quarter. First Hawaiian Bank now owns 27,460 shares of the insurance provider’s stock worth $361,000 after purchasing an additional 3,560 shares in the last quarter. Clark Capital Management Group Inc. lifted its stake in MGIC Investment by 6.2% in the 2nd quarter. Clark Capital Management Group Inc. now owns 398,517 shares of the insurance provider’s stock worth $5,237,000 after purchasing an additional 23,161 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. lifted its stake in MGIC Investment by 47.6% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 140,684 shares of the insurance provider’s stock worth $1,848,000 after purchasing an additional 45,387 shares in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Company Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, 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.

See Also: Determine Your Level of Risk Tolerance

Analyst Recommendations for MGIC Investment (NYSE:MTG)

Receive News & Ratings for MGIC Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment and related companies with MarketBeat.com's FREE daily email newsletter.