MGIC Investment (NYSE:MTG – Get Rating)'s stock had its "buy" rating reiterated by equities researchers at Roth Capital in a note issued to investors on Thursday, PriceTargets.com reports.
A number of other research firms also recently commented on MTG. StockNews.com downgraded MGIC Investment from a "buy" rating to a "hold" rating in a report on Friday. Compass Point downgraded shares of MGIC Investment from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $19.00 to $14.50 in a report on Tuesday, November 8th. Barclays cut shares of MGIC Investment from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $16.00 to $14.00 in a report on Friday, January 6th. Finally, Credit Suisse Group cut their target price on shares of MGIC Investment to $15.00 in a report on Thursday, October 13th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, MGIC Investment has a consensus rating of "Moderate Buy" and a consensus target price of $15.75.
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MTG stock opened at $14.17 on Thursday. The stock's 50 day moving average is $13.28 and its two-hundred day moving average is $13.60. MGIC Investment has a 52-week low of $11.38 and a 52-week high of $16.41. The company has a market capitalization of $4.21 billion, a PE ratio of 5.08, a P/E/G ratio of 1.31 and a beta of 1.37. The company has a quick ratio of 0.50, a current ratio of 0.48 and a debt-to-equity ratio of 0.14.
MGIC Investment (NYSE:MTG – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The insurance provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. MGIC Investment had a net margin of 73.79% and a return on equity of 19.71%. The company had revenue of $292.25 million during the quarter, compared to analyst estimates of $295.17 million. During the same period last year, the business earned $0.61 EPS. The firm's revenue for the quarter was down .6% compared to the same quarter last year. Analysts predict that MGIC Investment will post 2.18 earnings per share for the current fiscal year.Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its holdings in MGIC Investment by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 162,220 shares of the insurance provider's stock worth $2,108,000 after purchasing an additional 766 shares during the period. DGS Capital Management LLC boosted its stake in MGIC Investment by 7.1% during the 2nd quarter. DGS Capital Management LLC now owns 11,998 shares of the insurance provider's stock valued at $151,000 after purchasing an additional 799 shares in the last quarter. Van ECK Associates Corp increased its position in shares of MGIC Investment by 9.9% during the 3rd quarter. Van ECK Associates Corp now owns 8,930 shares of the insurance provider's stock valued at $114,000 after purchasing an additional 804 shares during the period. Janney Montgomery Scott LLC increased its position in shares of MGIC Investment by 3.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 27,117 shares of the insurance provider's stock valued at $353,000 after purchasing an additional 943 shares during the period. Finally, Advisors Capital Management LLC raised its stake in shares of MGIC Investment by 0.3% in the 3rd quarter. Advisors Capital Management LLC now owns 305,871 shares of the insurance provider's stock worth $4,096,000 after buying an additional 968 shares in the last quarter. Institutional investors own 96.95% of the company's stock.
About MGIC Investment
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MGIC Investment Corp. is a private mortgage insurer that serves lenders throughout the United States, and Puerto Rico. It also provides lenders with underwriting and other services and products related to home mortgage lending through its subsidiaries, such as Mortgage Guaranty Insurance Corp. and MGIC Indemnity Corp.
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