Analysts Set MGIC Investment Co. (NYSE:MTG) Price Target at $25.50

MGIC Investment Co. (NYSE:MTG - Get Free Report) has received an average rating of "Moderate Buy" from the six research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $25.50.

MTG has been the subject of several research analyst reports. Roth Mkm upped their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. BTIG Research boosted their price target on MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Royal Bank of Canada decreased their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Wednesday, November 6th. Finally, Barclays upped their price target on MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 8th.

Institutional Investors Weigh In On MGIC Investment

A number of institutional investors and hedge funds have recently bought and sold shares of MTG. Hara Capital LLC purchased a new position in MGIC Investment during the 3rd quarter worth approximately $25,000. Versant Capital Management Inc increased its stake in MGIC Investment by 482.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider's stock valued at $25,000 after buying an additional 946 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of MGIC Investment during the 3rd quarter valued at $33,000. Brooklyn Investment Group acquired a new stake in shares of MGIC Investment during the 3rd quarter valued at $69,000. Finally, GAMMA Investing LLC boosted its position in MGIC Investment by 76.2% during the second quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider's stock valued at $66,000 after purchasing an additional 1,328 shares during the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Price Performance

Shares of MGIC Investment stock traded up $0.18 during trading on Wednesday, hitting $24.75. 1,049,967 shares of the company were exchanged, compared to its average volume of 1,757,522. The firm has a 50 day moving average price of $25.17 and a 200 day moving average price of $23.47. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 1.81 and a beta of 1.28. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment has a fifty-two week low of $17.31 and a fifty-two week high of $26.52.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.11. The firm had revenue of $306.65 million during the quarter, compared to analysts' expectations of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, equities analysts expect that MGIC Investment will post 2.81 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, November 7th. MGIC Investment's dividend payout ratio (DPR) is presently 18.31%.

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.