MGIC Investment Co. (NYSE:MTG) Receives $26.75 Average PT from Analysts

Shares of MGIC Investment Co. (NYSE:MTG - Get Free Report) have been given a consensus rating of "Hold" by the eight analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $26.75.

A number of brokerages recently weighed in on MTG. Compass Point restated a "neutral" rating and issued a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. UBS Group boosted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and dropped their price target for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Barclays raised their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada lowered their price target on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Wednesday, November 6th.

Insider Transactions at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were 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 of the company's stock, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.05% of the stock is owned by insiders.

Remove Ads

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MTG. Creative Planning lifted its stake in MGIC Investment by 17.9% in the third quarter. Creative Planning now owns 21,128 shares of the insurance provider's stock valued at $541,000 after purchasing an additional 3,204 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of MGIC Investment during the third quarter worth about $253,000. DekaBank Deutsche Girozentrale lifted its position in shares of MGIC Investment by 1.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 425,042 shares of the insurance provider's stock worth $10,719,000 after purchasing an additional 6,065 shares during the period. State of Alaska Department of Revenue increased its stake in shares of MGIC Investment by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider's stock worth $3,858,000 after acquiring an additional 540 shares in the last quarter. Finally, James Investment Research Inc. boosted its stake in MGIC Investment by 7.1% in the 3rd quarter. James Investment Research Inc. now owns 78,825 shares of the insurance provider's stock worth $2,018,000 after purchasing an additional 5,200 shares in the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Price Performance

MGIC Investment stock traded down $0.21 during mid-day trading on Friday, reaching $24.41. 768,429 shares of the company's stock traded hands, compared to its average volume of 1,700,133. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. MGIC Investment has a 12-month low of $19.26 and a 12-month high of $26.56. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 8.44 and a beta of 1.29. The stock has a 50 day moving average of $24.37 and a two-hundred day moving average of $24.83.

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

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.13%. MGIC Investment's dividend payout ratio is presently 17.93%.

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.