MGIC Investment Co. (NYSE:MTG) Receives $24.33 Average Target Price from Brokerages

Shares of MGIC Investment Co. (NYSE:MTG - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $24.33.

MTG has been the topic of a number of research analyst reports. Roth Mkm raised their price objective on shares of MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. BTIG Research boosted their price objective on MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Keefe, Bruyette & Woods raised MGIC Investment from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $24.00 to $25.00 in a report on Monday, June 3rd. Finally, Barclays boosted their price target on shares of MGIC Investment from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Friday, August 2nd.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MTG. Janney Montgomery Scott LLC acquired a new stake in MGIC Investment during the 4th quarter worth about $563,000. Parallel Advisors LLC grew its position in MGIC Investment by 55.0% during the fourth quarter. Parallel Advisors LLC now owns 5,414 shares of the insurance provider's stock valued at $104,000 after purchasing an additional 1,922 shares in the last quarter. TFO Wealth Partners LLC increased its stake in MGIC Investment by 676,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 13,528 shares of the insurance provider's stock valued at $261,000 after buying an additional 13,526 shares during the period. Campbell & CO Investment Adviser LLC lifted its position in MGIC Investment by 96.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 67,203 shares of the insurance provider's stock worth $1,296,000 after buying an additional 32,989 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of MGIC Investment by 3.6% during the 4th quarter. First Trust Advisors LP now owns 12,067,181 shares of the insurance provider's stock valued at $232,776,000 after buying an additional 415,628 shares during the period. 95.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Stock Performance

MTG traded down $0.21 during trading hours on Tuesday, hitting $25.39. The company's stock had a trading volume of 1,253,691 shares, compared to its average volume of 1,801,863. The company has a 50-day simple moving average of $24.63 and a 200 day simple moving average of $22.37. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $6.77 billion, a PE ratio of 9.77, a PEG ratio of 1.37 and a beta of 1.28. MGIC Investment has a fifty-two week low of $16.30 and a fifty-two week high of $25.93.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.15. The business had revenue of $305.28 million for the quarter, compared to analysts' expectations of $301.02 million. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The company's revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 earnings per share. As a group, sell-side analysts expect that MGIC Investment will post 2.76 EPS for the current year.

MGIC Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.05%. The ex-dividend date was Thursday, August 8th. This is an increase from MGIC Investment's previous quarterly dividend of $0.12. MGIC Investment's payout ratio is presently 20.00%.

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.