MGIC Investment Corp. (MTG) Receives $15.75 Average PT from Analysts

Shares of MGIC Investment Corp. (NYSE:MTG) have received a consensus rating of “Buy” from the sixteen research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $15.75.

Several research firms recently weighed in on MTG. Compass Point reiterated a “buy” rating and set a $15.25 target price (up from $13.00) on shares of MGIC Investment in a research report on Wednesday, October 11th. BTIG Research reiterated a “buy” rating and set a $14.00 target price on shares of MGIC Investment in a research report on Saturday, October 14th. FBR & Co reiterated a “buy” rating on shares of MGIC Investment in a research report on Wednesday, October 18th. Barclays lifted their target price on MGIC Investment from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, October 19th. Finally, MKM Partners lifted their target price on MGIC Investment to $16.00 and gave the company a “buy” rating in a research report on Thursday, October 19th.

Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in shares of MGIC Investment by 6.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,698,244 shares of the insurance provider’s stock valued at $23,963,000 after acquiring an additional 108,811 shares in the last quarter. Bailard Inc. purchased a new position in shares of MGIC Investment in the fourth quarter valued at about $1,213,000. Sei Investments Co. lifted its position in shares of MGIC Investment by 100.1% in the fourth quarter. Sei Investments Co. now owns 283,134 shares of the insurance provider’s stock valued at $3,995,000 after acquiring an additional 141,653 shares in the last quarter. Swiss National Bank lifted its position in shares of MGIC Investment by 1.9% in the fourth quarter. Swiss National Bank now owns 631,200 shares of the insurance provider’s stock valued at $8,906,000 after acquiring an additional 11,500 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of MGIC Investment by 6.2% in the fourth quarter. California Public Employees Retirement System now owns 694,554 shares of the insurance provider’s stock valued at $9,800,000 after acquiring an additional 40,650 shares in the last quarter. Institutional investors and hedge funds own 92.24% of the company’s stock.

Shares of MGIC Investment (NYSE MTG) traded down $0.64 on Friday, hitting $13.86. The company had a trading volume of 4,038,831 shares, compared to its average volume of 2,810,960. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. MGIC Investment has a one year low of $9.68 and a one year high of $16.21. The company has a market capitalization of $5,140.00, a price-to-earnings ratio of 14.74, a P/E/G ratio of 1.44 and a beta of 2.28.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.16. MGIC Investment had a return on equity of 17.70% and a net margin of 33.37%. The company had revenue of $271.50 million during the quarter, compared to analyst estimates of $273.66 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. MGIC Investment’s revenue was up 1.9% compared to the same quarter last year. research analysts anticipate that MGIC Investment will post 1.44 earnings per share for the current fiscal year.

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About MGIC Investment

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.

Analyst Recommendations for MGIC Investment (NYSE:MTG)

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