MGIC Investment Co. (NYSE:MTG) Receives $26.75 Average Price Target from Brokerages

MGIC Investment Co. (NYSE:MTG) has received a consensus recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $26.75.

A number of equities analysts have commented on the company. Compass Point reaffirmed a “neutral” rating and issued a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. UBS Group upped their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Barclays raised their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th.

Insider Buying and Selling

In related news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.05% of the stock is owned by insiders.

Hedge Funds Weigh In On MGIC Investment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of MGIC Investment by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,618,145 shares of the insurance provider’s stock worth $38,366,000 after buying an additional 7,217 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in MGIC Investment in the fourth quarter worth about $9,948,000. Peak Retirement Planning Inc. purchased a new stake in MGIC Investment in the fourth quarter worth about $512,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of MGIC Investment by 3.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,206,491 shares of the insurance provider’s stock valued at $28,606,000 after purchasing an additional 45,448 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of MGIC Investment by 423.3% during the fourth quarter. Squarepoint Ops LLC now owns 493,749 shares of the insurance provider’s stock valued at $11,707,000 after purchasing an additional 399,397 shares during the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

Shares of MGIC Investment stock opened at $24.41 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. MGIC Investment has a 52-week low of $19.26 and a 52-week high of $26.56. The company has a fifty day moving average of $24.34 and a 200-day moving average of $24.67. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 8.42 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Equities research analysts expect that MGIC Investment will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s payout ratio is 17.93%.

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.