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

MGIC Investment Co. (NYSE:MTG) has been given an average rating of “Hold” by the eight ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $26.25.

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

MGIC Investment Price Performance

Shares of NYSE:MTG opened at $25.50 on Monday. MGIC Investment has a 52 week low of $18.68 and a 52 week high of $26.56. The company has a 50-day moving average price of $24.52 and a 200 day moving average price of $24.74. The company has a market cap of $6.46 billion, a P/E ratio of 8.98, a PEG ratio of 2.02 and a beta of 1.29. 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 posted its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating 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%. Research analysts predict that MGIC Investment will post 2.85 earnings per share for the current year.

MGIC Investment Announces Dividend

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

Institutional Trading of MGIC Investment

A number of large investors have recently made changes to their positions in MTG. Hara Capital LLC purchased a new position in MGIC Investment in the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new position in shares of MGIC Investment in the third quarter valued at approximately $33,000. UMB Bank n.a. lifted its stake in shares of MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after buying an additional 938 shares during the period. Venturi Wealth Management LLC boosted its position in MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 918 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in MGIC Investment in the 3rd quarter worth approximately $69,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Company Profile

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.