MGIC Investment Co. (NYSE:MTG) Receives $25.86 Average PT from Analysts

MGIC Investment Co. (NYSE:MTG - Get Free Report) has been assigned a consensus rating of "Hold" from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $25.86.

A number of brokerages have recently weighed in on MTG. Barclays lifted their price objective on MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 8th. Bank of America cut shares of 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 research report on Monday, December 9th. Royal Bank of Canada dropped 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, Keefe, Bruyette & Woods reduced their target price on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a report on Wednesday.

MGIC Investment Trading Up 0.8 %

Shares of NYSE:MTG traded up $0.18 during midday trading on Thursday, reaching $23.62. 1,729,791 shares of the company's stock were exchanged, compared to its average volume of 1,635,308. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 1.75 and a beta of 1.29. MGIC Investment has a fifty-two week low of $18.68 and a fifty-two week high of $26.56. The firm's 50 day simple moving average is $24.55 and its two-hundred day simple moving average is $24.37. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The business had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The business's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. As a group, sell-side analysts forecast that MGIC Investment will post 2.85 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Thursday, November 7th. MGIC Investment's dividend payout ratio is presently 18.31%.

Institutional Trading of MGIC Investment

A number of hedge funds and other institutional investors have recently bought and sold shares of MTG. Dimensional Fund Advisors LP grew its position in shares of MGIC Investment by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider's stock valued at $326,375,000 after buying an additional 556,859 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of MGIC Investment during the third quarter worth about $13,535,000. WINTON GROUP Ltd increased its position in shares of MGIC Investment by 440.3% during the second quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider's stock worth $11,228,000 after purchasing an additional 424,580 shares in the last quarter. Vest Financial LLC boosted its position in shares of MGIC Investment by 22.7% in the 2nd quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider's stock valued at $23,139,000 after purchasing an additional 198,553 shares during the period. Finally, Barclays PLC grew its stake in MGIC Investment by 75.1% during the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider's stock worth $11,716,000 after buying an additional 196,252 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

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.