MGIC Investment (MTG) – Research Analysts’ Weekly Ratings Changes

A number of research firms have changed their ratings and price targets for MGIC Investment (NYSE: MTG):

  • 11/1/2018 – MGIC Investment was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/22/2018 – MGIC Investment had its price target raised by analysts at Compass Point from $14.50 to $16.50. They now have a “buy” rating on the stock.
  • 10/21/2018 – MGIC Investment had its “hold” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $14.00 price target on the stock.
  • 10/19/2018 – MGIC Investment was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/18/2018 – MGIC Investment was given a new $17.00 price target on by analysts at Susquehanna Bancshares Inc. They now have a “buy” rating on the stock.

Shares of NYSE MTG traded up $0.25 during trading hours on Thursday, hitting $12.74. 1,903,541 shares of the stock were exchanged, compared to its average volume of 3,550,573. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.25. The firm has a market cap of $4.54 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 1.45 and a beta of 1.76. MGIC Investment Corp. has a 12 month low of $9.97 and a 12 month high of $16.21.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, October 17th. The insurance provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.36 by $0.13. The firm had revenue of $290.50 million during the quarter, compared to analyst estimates of $274.36 million. MGIC Investment had a net margin of 48.63% and a return on equity of 20.89%. MGIC Investment’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. On average, equities research analysts anticipate that MGIC Investment Corp. will post 1.73 earnings per share for the current fiscal year.

In other news, Director Michael E. Lehman acquired 7,000 shares of MGIC Investment stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average price of $11.70 per share, for a total transaction of $81,900.00. Following the purchase, the director now directly owns 29,989 shares in the company, valued at approximately $350,871.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.01% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in MGIC Investment by 5.4% during the 2nd quarter. BlackRock Inc. now owns 26,467,584 shares of the insurance provider’s stock worth $283,733,000 after purchasing an additional 1,345,014 shares during the last quarter. Advisors Capital Management LLC grew its position in MGIC Investment by 3.5% during the 3rd quarter. Advisors Capital Management LLC now owns 270,894 shares of the insurance provider’s stock worth $3,606,000 after purchasing an additional 9,083 shares during the last quarter. Algebris UK Ltd purchased a new stake in MGIC Investment during the 2nd quarter worth approximately $12,513,000. Bank of Montreal Can grew its position in MGIC Investment by 6.0% during the 2nd quarter. Bank of Montreal Can now owns 482,493 shares of the insurance provider’s stock worth $5,172,000 after purchasing an additional 27,512 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in MGIC Investment by 38.5% during the 1st quarter. Allianz Asset Management GmbH now owns 623,878 shares of the insurance provider’s stock worth $8,111,000 after purchasing an additional 173,561 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors.

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.

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