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

MGIC Investment Co. (NYSE:MTG) has been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $26.25.

MTG has been the subject of a number of recent analyst reports. Barclays increased 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 note on Wednesday, February 5th. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $26.00 to $25.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods dropped their price objective 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. 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 research note on Wednesday, November 6th. Finally, Compass Point restated a “neutral” rating and issued a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th.

MGIC Investment Stock Performance

MTG opened at $25.30 on Monday. The business’s 50-day simple moving average is $24.47 and its 200 day simple moving average is $24.77. MGIC Investment has a 52-week low of $18.68 and a 52-week high of $26.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The firm has a market capitalization of $6.41 billion, a PE ratio of 8.72, a PEG ratio of 2.01 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. As a group, sell-side analysts expect that MGIC Investment will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s dividend payout ratio is currently 17.93%.

Hedge Funds Weigh In On MGIC Investment

Institutional investors and hedge funds have recently modified their holdings of the business. Hara Capital LLC acquired a new position in shares of MGIC Investment during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new stake in MGIC Investment during the third quarter worth approximately $33,000. UMB Bank n.a. increased its stake in MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 938 shares during the period. Venturi Wealth Management LLC raised its holdings in MGIC Investment by 102.1% in the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 918 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of MGIC Investment during the 3rd quarter valued at $69,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.

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.