MGIC Investment (NYSE:MTG) PT Raised to $22.00

MGIC Investment (NYSE:MTGGet Free Report) had its price objective increased by research analysts at UBS Group from $21.00 to $22.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. UBS Group’s price objective points to a potential upside of 7.90% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $24.00 target price (up from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Roth Mkm upped their price objective on shares of MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada raised their target price on MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.67.

Read Our Latest Analysis on MTG

MGIC Investment Stock Performance

Shares of MTG opened at $20.39 on Wednesday. The company’s 50 day moving average price is $20.83 and its 200 day moving average price is $19.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 1.05. MGIC Investment has a 52 week low of $14.73 and a 52 week high of $22.43. The company has a market capitalization of $5.44 billion, a PE ratio of 7.84, a PEG ratio of 7.16 and a beta of 1.24.

MGIC Investment (NYSE:MTGGet Free Report) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. The firm had revenue of $294.40 million for the quarter, compared to the consensus estimate of $301.62 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts expect that MGIC Investment will post 2.48 EPS for the current fiscal year.

Hedge Funds Weigh In On MGIC Investment

A number of institutional investors have recently made changes to their positions in MTG. GAMMA Investing LLC acquired a new position in MGIC Investment during the 4th quarter valued at $30,000. Pacific Capital Wealth Advisors Inc. acquired a new position in MGIC Investment in the fourth quarter worth about $31,000. Quarry LP boosted its holdings in MGIC Investment by 244.4% during the fourth quarter. Quarry LP now owns 1,977 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 1,403 shares in the last quarter. CWM LLC grew its stake in shares of MGIC Investment by 249.1% in the 1st quarter. CWM LLC now owns 2,175 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 1,552 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of MGIC Investment by 49.2% in the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock worth $50,000 after buying an additional 849 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors.

MGIC Investment Company Profile

(Get Free Report)

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.

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