MGIC Investment (NYSE:MTG)‘s stock had its “buy” rating restated by investment analysts at Wells Fargo & Co in a report released on Wednesday.
Several other analysts also recently commented on MTG. Zacks Investment Research downgraded shares of MGIC Investment from a “buy” rating to a “hold” rating in a report on Monday. Macquarie began coverage on shares of MGIC Investment in a report on Wednesday. They set an “outperform” rating and a $17.00 target price on the stock. ValuEngine downgraded shares of MGIC Investment from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 10th. Deutsche Bank upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating and raised their target price for the stock from $15.00 to $18.00 in a report on Monday, January 8th. Finally, B. Riley restated a “buy” rating and set a $19.00 target price on shares of MGIC Investment in a report on Thursday, January 18th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. MGIC Investment presently has an average rating of “Buy” and an average price target of $16.44.
Shares of MGIC Investment (NYSE MTG) opened at $12.48 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market cap of $4,690.00, a P/E ratio of 9.67, a price-to-earnings-growth ratio of 1.33 and a beta of 2.27. MGIC Investment has a fifty-two week low of $9.68 and a fifty-two week high of $16.21.
MGIC Investment (NYSE:MTG) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.27 by $0.16. The firm had revenue of $271.50 million for the quarter, compared to the consensus estimate of $273.66 million. MGIC Investment had a net margin of 33.37% and a return on equity of 17.36%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS. equities analysts anticipate that MGIC Investment will post 1.43 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB acquired a new stake in shares of MGIC Investment in the fourth quarter valued at approximately $451,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in shares of MGIC Investment by 57.7% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 220,816 shares of the insurance provider’s stock valued at $3,116,000 after purchasing an additional 80,800 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of MGIC Investment in the fourth quarter valued at approximately $2,339,000. Jump Trading LLC acquired a new position in MGIC Investment during the fourth quarter worth $223,000. Finally, Jane Street Group LLC increased its holdings in MGIC Investment by 110.8% during the fourth quarter. Jane Street Group LLC now owns 55,306 shares of the insurance provider’s stock worth $780,000 after buying an additional 29,074 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.
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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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