MGIC Investment Co. (NYSE:MTG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of MGIC Investment Co. (NYSE:MTG) have received an average recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $21.83.

Several equities analysts recently weighed in on the stock. UBS Group raised their price target on shares of MGIC Investment from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods upgraded MGIC Investment from a “market perform” rating to an “outperform” rating and raised their target price for the company from $24.00 to $25.00 in a report on Monday, June 3rd.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MTG. Louisiana State Employees Retirement System boosted its holdings in shares of MGIC Investment by 0.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 78,400 shares of the insurance provider’s stock worth $1,753,000 after buying an additional 500 shares during the last quarter. QRG Capital Management Inc. boosted its stake in MGIC Investment by 4.1% in the fourth quarter. QRG Capital Management Inc. now owns 14,703 shares of the insurance provider’s stock valued at $284,000 after acquiring an additional 584 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of MGIC Investment by 0.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 117,517 shares of the insurance provider’s stock valued at $2,267,000 after acquiring an additional 774 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of MGIC Investment by 2.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 39,747 shares of the insurance provider’s stock worth $774,000 after purchasing an additional 812 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of MGIC Investment by 49.2% in the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 849 shares during the period. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Trading Up 0.4 %

Shares of MGIC Investment stock opened at $21.39 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 1.05. MGIC Investment has a 52 week low of $15.02 and a 52 week high of $22.43. The stock has a 50 day moving average price of $20.68 and a two-hundred day moving average price of $20.13. The stock has a market capitalization of $5.70 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 7.18 and a beta of 1.24.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. The business had revenue of $294.40 million during the quarter, compared to analyst estimates of $301.62 million. During the same quarter in the previous year, the business posted $0.54 EPS. MGIC Investment’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts anticipate that MGIC Investment will post 2.52 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Thursday, May 9th were paid a $0.115 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.15%. MGIC Investment’s payout ratio is presently 17.69%.

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.