Keefe, Bruyette & Woods Has Lowered Expectations for MGIC Investment (NYSE:MTG) Stock Price

MGIC Investment (NYSE:MTG - Get Free Report) had its target price dropped by stock analysts at Keefe, Bruyette & Woods from $28.00 to $26.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "market perform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 8.67% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. 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 report on Wednesday, February 5th. UBS Group raised their target price 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 upped their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Finally, Bank of America cut shares of MGIC Investment from a "buy" rating to an "underperform" rating and dropped their price objective for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, MGIC Investment has an average rating of "Hold" and a consensus target price of $26.50.

MGIC Investment Price Performance

Shares of NYSE MTG traded up $0.72 during midday trading on Tuesday, hitting $23.93. The company had a trading volume of 2,341,615 shares, compared to its average volume of 1,799,697. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The business has a 50-day simple moving average of $24.01 and a two-hundred day simple moving average of $24.55. MGIC Investment has a twelve month low of $19.26 and a twelve month high of $26.56. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 8.25 and a beta of 0.93.

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

Insider Transactions at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the transaction, the chief accounting officer now directly owns 75,070 shares in the company, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.05% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MTG. Merit Financial Group LLC acquired a new stake in shares of MGIC Investment in the first quarter worth approximately $232,000. Rhumbline Advisers boosted its holdings in shares of MGIC Investment by 7.9% in the 1st quarter. Rhumbline Advisers now owns 822,871 shares of the insurance provider's stock valued at $20,391,000 after purchasing an additional 59,960 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of MGIC Investment by 3,346.4% during the 1st quarter. GAMMA Investing LLC now owns 150,365 shares of the insurance provider's stock valued at $3,726,000 after buying an additional 146,002 shares during the period. Versant Capital Management Inc increased its holdings in shares of MGIC Investment by 262.0% during the 1st quarter. Versant Capital Management Inc now owns 4,811 shares of the insurance provider's stock worth $119,000 after buying an additional 3,482 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised 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. Institutional investors and hedge funds own 95.58% of the company's stock.

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.