MGIC Investment (NYSE:MTG) Price Target Raised to $26.00 at UBS Group

MGIC Investment (NYSE:MTG - Free Report) had its price objective lifted by UBS Group from $25.00 to $26.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the insurance provider's stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada cut 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 research report on Wednesday, November 6th. Keefe, Bruyette & Woods cut their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a research report on Wednesday, January 8th. Bank of America cut shares of MGIC Investment from a "buy" rating to an "underperform" rating and cut their price objective for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Barclays raised their price objective 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, Compass Point restated a "neutral" rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $26.75.

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MGIC Investment Price Performance

Shares of NYSE MTG traded down $0.45 during mid-day trading on Wednesday, reaching $23.97. The company's stock had a trading volume of 1,842,481 shares, compared to its average volume of 1,611,461. The stock has a 50-day moving average of $24.34 and a two-hundred day moving average of $24.79. The stock has a market capitalization of $6.07 billion, a P/E ratio of 8.26 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. MGIC Investment has a 1-year low of $18.98 and a 1-year high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its 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 net margin of 63.18% and a return on equity of 14.86%. On average, equities research analysts anticipate that MGIC Investment will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, February 18th. MGIC Investment's dividend payout ratio is presently 17.93%.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.05% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hara Capital LLC purchased a new position in shares of MGIC Investment in the third quarter valued at approximately $25,000. UMB Bank n.a. boosted its stake in shares of MGIC Investment by 131.9% in the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 938 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of MGIC Investment by 102.1% in the fourth 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. V Square Quantitative Management LLC boosted its stake in shares of MGIC Investment by 61.9% in the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock valued at $49,000 after purchasing an additional 794 shares during the period. Finally, Physician Wealth Advisors Inc. purchased a new position in shares of MGIC Investment in the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 95.58% of the company's stock.

MGIC Investment Company Profile

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.