MGIC Investment’s (MTG) Neutral Rating Reiterated at Compass Point

Compass Point reaffirmed their neutral rating on shares of MGIC Investment (NYSE:MTG) in a research report report published on Wednesday, MarketBeat reports. They currently have a $27.00 price target on the insurance provider’s stock, up from their previous price target of $24.00.

MTG has been the subject of a number of other research reports. Barclays boosted their target price on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada decreased their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Bank of America cut 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, Keefe, Bruyette & Woods decreased their price target on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $26.25.

MGIC Investment Stock Performance

NYSE:MTG opened at $25.30 on Wednesday. The business has a 50 day moving average of $24.49 and a 200 day moving average of $24.75. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 2.02 and a beta of 1.29. MGIC Investment has a 1-year low of $18.68 and a 1-year high of $26.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25.

MGIC Investment (NYSE:MTG) last released 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 return on equity of 14.99% and a net margin of 64.09%. On average, sell-side analysts predict that MGIC Investment will post 2.85 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be paid 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 2.06%. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.

Hedge Funds Weigh In On MGIC Investment

Several hedge funds have recently made changes to their positions in MTG. Hara Capital LLC purchased a new position in shares of MGIC Investment during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new position in shares of MGIC Investment during the third quarter valued at approximately $33,000. UMB Bank n.a. grew its stake in MGIC Investment by 131.9% in the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 938 shares during the period. Venturi Wealth Management LLC grew its stake in MGIC Investment by 102.1% in the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 918 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in MGIC Investment in the third quarter worth $69,000. 95.58% of the stock is owned by hedge funds and other institutional investors.

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.