MGIC Investment (NYSE:MTG) Shares Cross Above 200-Day Moving Average - Time to Sell?

Shares of MGIC Investment Co. (NYSE:MTG - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.47 and traded as high as $24.65. MGIC Investment shares last traded at $24.48, with a volume of 1,954,303 shares traded.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank of Canada cut their target price 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. Barclays upped their target price on MGIC Investment from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods cut their price target on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a research note on Wednesday, January 8th. Finally, Bank of America cut 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 report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $25.86.

MGIC Investment Price Performance

The firm has a market cap of $6.20 billion, a P/E ratio of 8.62, a P/E/G ratio of 1.72 and a beta of 1.29. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The business's 50 day moving average is $24.51 and its two-hundred day moving average is $24.47.

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

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.12%. The ex-dividend date was Thursday, November 7th. MGIC Investment's dividend payout ratio is presently 18.31%.

Hedge Funds Weigh In On MGIC Investment

Several institutional investors have recently made changes to their positions in MTG. Vanguard Personalized Indexing Management LLC raised its holdings in MGIC Investment by 5.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 54,007 shares of the insurance provider's stock worth $1,164,000 after buying an additional 2,678 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of MGIC Investment in the 2nd quarter worth about $753,000. Intech Investment Management LLC bought a new position in MGIC Investment in the 2nd quarter valued at about $231,000. EMG Holdings L.P. acquired a new position in MGIC Investment during the 2nd quarter valued at about $2,128,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of MGIC Investment by 16.1% in the second quarter. Pacer Advisors Inc. now owns 72,642 shares of the insurance provider's stock valued at $1,565,000 after purchasing an additional 10,088 shares in the last quarter. 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.