A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of MGIC Investment Corporation from a buy rating to a hold rating in a report on Wednesday, October 4th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $13.00 price objective on shares of MGIC Investment Corporation in a report on Thursday, August 31st. BidaskClub upgraded shares of MGIC Investment Corporation from a hold rating to a buy rating in a report on Friday, August 18th. BTIG Research reiterated a buy rating and issued a $14.00 price objective (up from $12.00) on shares of MGIC Investment Corporation in a report on Saturday, July 22nd. Finally, Deutsche Bank AG lifted their price objective on shares of MGIC Investment Corporation from $13.00 to $13.50 and gave the company a buy rating in a report on Friday, July 21st. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. MGIC Investment Corporation currently has a consensus rating of Buy and a consensus price target of $12.25.
MGIC Investment Corporation (NYSE MTG) traded up 0.64% during mid-day trading on Wednesday, reaching $12.64. 1,621,150 shares of the company’s stock traded hands. The stock has a market cap of $4.68 billion, a P/E ratio of 13.02 and a beta of 2.16. The firm has a 50-day moving average price of $11.84 and a 200-day moving average price of $11.22. MGIC Investment Corporation has a 1-year low of $7.84 and a 1-year high of $12.73.
MGIC Investment Corporation (NYSE:MTG) last posted its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.06. MGIC Investment Corporation had a net margin of 34.99% and a return on equity of 16.56%. The company had revenue of $263.31 million for the quarter, compared to the consensus estimate of $263.43 million. During the same period last year, the company earned $0.26 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. Equities research analysts anticipate that MGIC Investment Corporation will post $1.14 EPS for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in MTG. Fox Run Management L.L.C. bought a new position in shares of MGIC Investment Corporation in the second quarter valued at $116,000. Appleton Group LLC bought a new position in shares of MGIC Investment Corporation in the second quarter valued at $119,000. Advisors Asset Management Inc. bought a new position in shares of MGIC Investment Corporation in the second quarter valued at $121,000. Sawgrass Asset Management LLC bought a new position in shares of MGIC Investment Corporation in the second quarter valued at $123,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of MGIC Investment Corporation in the second quarter valued at $132,000. 89.58% of the stock is owned by institutional investors and hedge funds.
MGIC Investment Corporation 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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