Barclays Forecasts Strong Price Appreciation for MGIC Investment (NYSE:MTG) Stock

MGIC Investment (NYSE:MTG) had its price objective boosted by research analysts at Barclays from $25.00 to $26.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Barclays‘s price target points to a potential upside of 2.22% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada decreased their price objective 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. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Compass Point restated a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research report on Wednesday. Finally, Keefe, Bruyette & Woods dropped their price target 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.25.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $25.44 on Wednesday. The firm has a market cap of $6.44 billion, a PE ratio of 8.96, a PEG ratio of 2.02 and a beta of 1.29. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment has a 1-year low of $18.68 and a 1-year high of $26.56. The company has a fifty day moving average price of $24.51 and a 200 day moving average price of $24.75.

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

Institutional Investors Weigh In On MGIC Investment

A number of institutional investors have recently added to or reduced their stakes in MTG. Creative Planning grew its position in shares of MGIC Investment by 49.9% during the 2nd quarter. Creative Planning now owns 17,924 shares of the insurance provider’s stock valued at $386,000 after acquiring an additional 5,969 shares during the period. Sanctuary Advisors LLC purchased a new stake in MGIC Investment in the 2nd quarter worth approximately $622,000. SG Americas Securities LLC lifted its stake in MGIC Investment by 11.1% in the 3rd quarter. SG Americas Securities LLC now owns 18,321 shares of the insurance provider’s stock worth $469,000 after purchasing an additional 1,832 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of MGIC Investment by 41.7% in the 3rd quarter. GAMMA Investing LLC now owns 4,352 shares of the insurance provider’s stock worth $111,000 after buying an additional 1,281 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of MGIC Investment by 48.1% in the 3rd quarter. Diversified Trust Co now owns 25,941 shares of the insurance provider’s stock worth $664,000 after buying an additional 8,425 shares during the last quarter. 95.58% of the stock is owned by institutional investors.

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.