MGIC Investment (NYSE:MTG) Stock Price Expected to Rise, Barclays Analyst Says

MGIC Investment (NYSE:MTG) had its target price upped by Barclays from $25.00 to $26.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Barclays‘s target price would suggest a potential upside of 1.67% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods reduced 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 note on Wednesday, January 8th. Compass Point reaffirmed a “neutral” rating and issued a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday. Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $26.00 to $25.00 in a report on Monday, December 9th. Finally, Royal Bank of Canada lowered their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. 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, the stock has a consensus rating of “Hold” and an average target price of $26.25.

MGIC Investment Stock Performance

Shares of NYSE MTG opened at $25.57 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. MGIC Investment has a one year low of $18.68 and a one year high of $26.56. The business’s 50-day moving average price is $24.53 and its two-hundred day moving average price is $24.72. The company has a market capitalization of $6.48 billion, a P/E ratio of 9.00, a price-to-earnings-growth ratio of 2.02 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. Analysts anticipate that MGIC Investment will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of MGIC Investment

A number of hedge funds have recently bought and sold shares of MTG. Hara Capital LLC acquired a new position in shares of MGIC Investment during the third quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new stake in MGIC Investment during the third quarter worth about $33,000. UMB Bank n.a. increased its stake in MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 938 shares during the period. Venturi Wealth Management LLC raised its holdings in MGIC Investment by 102.1% in the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 918 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of MGIC Investment in the 3rd quarter worth approximately $69,000. 95.58% of the stock is owned by institutional investors.

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.