MGIC Investment Corporation (NYSE:MTG) – Equities researchers at B. Riley issued their Q4 2017 EPS estimates for MGIC Investment in a report released on Monday. B. Riley analyst R. Binner anticipates that the insurance provider will post earnings of $0.26 per share for the quarter. B. Riley currently has a “Buy” rating on the stock.
Other equities research analysts have also issued research reports about the company. Keefe, Bruyette & Woods restated a “buy” rating and issued a $13.00 price objective on shares of MGIC Investment in a research report on Thursday, August 31st. Zacks Investment Research upgraded MGIC Investment from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Tuesday, August 22nd. BidaskClub raised MGIC Investment from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Bank of America upped their target price on MGIC Investment from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Finally, MKM Partners upped their target price on MGIC Investment to $16.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $14.34.
Shares of MGIC Investment (NYSE:MTG) opened at $15.32 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27. MGIC Investment has a 52-week low of $9.58 and a 52-week high of $15.55. The company has a market capitalization of $5,725.26, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 1.50 and a beta of 2.26.
MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. MGIC Investment had a return on equity of 16.41% and a net margin of 41.08%. The business had revenue of $270.30 million for the quarter, compared to analyst estimates of $267.85 million. During the same quarter in the prior year, the firm posted $0.14 EPS. The business’s quarterly revenue was down 1.3% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. AJO LP acquired a new stake in shares of MGIC Investment in the 2nd quarter worth $54,935,000. Janus Henderson Group PLC acquired a new stake in shares of MGIC Investment in the 2nd quarter worth $45,117,000. Vanguard Group Inc. increased its stake in shares of MGIC Investment by 9.9% in the 2nd quarter. Vanguard Group Inc. now owns 34,753,956 shares of the insurance provider’s stock worth $389,244,000 after acquiring an additional 3,120,511 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of MGIC Investment by 29.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,197,831 shares of the insurance provider’s stock worth $147,815,000 after acquiring an additional 3,013,777 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of MGIC Investment by 98.6% in the 2nd quarter. Westfield Capital Management Co. LP now owns 4,238,647 shares of the insurance provider’s stock worth $47,473,000 after acquiring an additional 2,104,047 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.
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MGIC Investment Company Profile
MGIC Investment Corporation is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. The Company provides mortgage insurance to lenders throughout the United States and to government-sponsored entities to protect against loss from defaults on low down payment residential mortgage loans.
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