MGIC Investment (NYSE:MTG) Given New $26.00 Price Target at Barclays

MGIC Investment (NYSE:MTG - Get Free Report) had its price target increased by stock analysts at Barclays from $25.00 to $26.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the insurance provider's stock. Barclays's price target points to a potential upside of 2.22% from the company's previous close.

A number of other research analysts also recently weighed in on MTG. Compass Point reiterated a "neutral" rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday. Bank of America cut MGIC Investment from a "buy" rating to an "underperform" rating and lowered their target price for the company from $26.00 to $25.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods decreased their price target on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a report on Wednesday, January 8th. Finally, Royal Bank of Canada lowered their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $26.25.

MGIC Investment Trading Down 0.3 %

Shares of NYSE:MTG traded down $0.09 during midday trading on Wednesday, reaching $25.44. The company had a trading volume of 1,686,280 shares, compared to its average volume of 1,661,282. The company has a fifty day simple moving average of $24.51 and a two-hundred day simple moving average of $24.75. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 2.02 and a beta of 1.29. MGIC Investment has a 1-year low of $18.68 and a 1-year high of $26.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25.

MGIC Investment (NYSE:MTG - Get Free Report) last released its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. Research analysts predict that MGIC Investment will post 2.85 earnings per share for the current year.

Institutional Trading of MGIC Investment

Several large investors have recently made changes to their positions in MTG. Hara Capital LLC bought a new position in MGIC Investment in the 3rd quarter worth $25,000. V Square Quantitative Management LLC bought a new position in shares of MGIC Investment in the third quarter worth about $33,000. UMB Bank n.a. lifted its position in shares of MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock worth $39,000 after purchasing an additional 938 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 918 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in MGIC Investment in the 3rd quarter valued at approximately $69,000. Institutional investors 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.