MGIC Investment Co. (NYSE:MTG) Receives $25.86 Consensus PT from Analysts

MGIC Investment Co. (NYSE:MTG) has earned an average recommendation of “Hold” from the eight analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $26.25.

A number of brokerages have weighed in on MTG. Barclays lifted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday. Compass Point reiterated a “neutral” rating and set a $27.00 target price (up from $24.00) on shares of MGIC Investment in a report on Wednesday. Keefe, Bruyette & Woods lowered their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Finally, Royal Bank of Canada lowered their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th.

Institutional Trading of MGIC Investment

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its stake in MGIC Investment by 6.5% during the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after buying an additional 98,369 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in MGIC Investment by 154.1% during the third quarter. GSA Capital Partners LLP now owns 96,732 shares of the insurance provider’s stock worth $2,476,000 after buying an additional 58,664 shares in the last quarter. Vestcor Inc grew its position in MGIC Investment by 559.3% in the third quarter. Vestcor Inc now owns 60,094 shares of the insurance provider’s stock worth $1,538,000 after buying an additional 50,979 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of MGIC Investment by 13.4% in the 4th quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider’s stock worth $2,174,000 after acquiring an additional 10,864 shares during the last quarter. Finally, Hancock Whitney Corp purchased a new stake in shares of MGIC Investment during the third quarter valued at $777,000. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Performance

NYSE:MTG opened at $25.50 on Monday. The company has a market cap of $6.46 billion, a P/E ratio of 8.98, a P/E/G ratio of 2.02 and a beta of 1.29. The firm’s 50 day moving average is $24.52 and its two-hundred day moving average is $24.74. MGIC Investment has a fifty-two week low of $18.68 and a fifty-two week high of $26.56. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. Analysts expect that MGIC Investment will post 2.85 EPS for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.04%. MGIC Investment’s payout ratio is currently 17.93%.

About MGIC Investment

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 District of Columbia, 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.