MGIC Investment Co. (NYSE:MTG) Receives $18.07 Consensus PT from Analysts

Shares of MGIC Investment Co. (NYSE:MTGGet Rating) have earned a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.07.

Several equities analysts recently weighed in on MTG shares. StockNews.com raised shares of MGIC Investment from a “hold” rating to a “buy” rating in a research note on Friday. BTIG Research cut their price target on MGIC Investment from $18.00 to $17.00 in a report on Tuesday, April 12th.

Several institutional investors and hedge funds have recently bought and sold shares of MTG. Norges Bank acquired a new stake in shares of MGIC Investment during the fourth quarter worth $55,742,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of MGIC Investment during the third quarter worth $51,957,000. National Bank of Canada FI acquired a new stake in shares of MGIC Investment during the fourth quarter worth $49,725,000. William Blair Investment Management LLC lifted its holdings in shares of MGIC Investment by 47,654.3% during the third quarter. William Blair Investment Management LLC now owns 3,008,519 shares of the insurance provider’s stock worth $45,007,000 after buying an additional 3,002,219 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of MGIC Investment by 75.1% during the third quarter. Royal Bank of Canada now owns 4,400,608 shares of the insurance provider’s stock worth $65,832,000 after buying an additional 1,886,750 shares in the last quarter. 94.10% of the stock is owned by institutional investors.

Shares of NYSE:MTG traded up $0.21 during midday trading on Friday, hitting $13.05. The stock had a trading volume of 3,865,928 shares, compared to its average volume of 2,710,444. MGIC Investment has a 12 month low of $12.60 and a 12 month high of $16.84. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.20. The business’s 50-day simple moving average is $13.55 and its 200-day simple moving average is $14.55. The company has a market cap of $4.04 billion, a P/E ratio of 6.66, a PEG ratio of 1.14 and a beta of 1.50.

MGIC Investment (NYSE:MTGGet Rating) last released its earnings results on Wednesday, May 4th. The insurance provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.11. MGIC Investment had a net margin of 55.82% and a return on equity of 14.61%. The business had revenue of $294.60 million during the quarter, compared to analysts’ expectations of $292.28 million. During the same period last year, the business earned $0.42 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. As a group, equities analysts predict that MGIC Investment will post 2.27 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, May 11th. MGIC Investment’s dividend payout ratio is 16.33%.

MGIC Investment Company Profile (Get Rating)

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, Puerto Rico, and Guam. 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.

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Analyst Recommendations for MGIC Investment (NYSE:MTG)

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