MGIC Investment Co. (NYSE:MTG) Given Consensus Recommendation of “Hold” by Analysts

Shares of MGIC Investment Co. (NYSE:MTG) have been given an average rating of “Hold” by the eight ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $26.75.

Several brokerages have recently commented on MTG. UBS Group raised their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Compass Point restated a “neutral” rating and issued a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Finally, Barclays increased their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th.

Insider Activity at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the transaction, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.05% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. grew its position in MGIC Investment by 369.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 57,722 shares of the insurance provider’s stock valued at $1,478,000 after acquiring an additional 45,419 shares during the last quarter. Larson Financial Group LLC increased its position in shares of MGIC Investment by 3.2% during the third quarter. Larson Financial Group LLC now owns 105,432 shares of the insurance provider’s stock worth $2,699,000 after acquiring an additional 3,220 shares during the period. Hancock Whitney Corp bought a new stake in shares of MGIC Investment during the third quarter valued at approximately $777,000. Brooklyn Investment Group purchased a new stake in shares of MGIC Investment in the third quarter valued at approximately $69,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of MGIC Investment by 26.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 307,547 shares of the insurance provider’s stock worth $7,873,000 after buying an additional 63,473 shares during the period. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Up 1.7 %

Shares of MTG stock opened at $24.83 on Tuesday. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment has a 12 month low of $19.26 and a 12 month high of $26.56. The stock has a market cap of $6.02 billion, a P/E ratio of 8.56 and a beta of 1.28. The company has a 50 day simple moving average of $24.35 and a two-hundred day simple moving average of $24.67.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. On average, research analysts expect that MGIC Investment will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is 17.93%.

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.