Analysts Set MGIC Investment Co. (NYSE:MTG) Price Target at $21.83

Shares of MGIC Investment Co. (NYSE:MTG) have been assigned an average rating of “Hold” from the five brokerages that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $21.83.

Several research analysts recently issued reports on MTG shares. Keefe, Bruyette & Woods raised MGIC Investment from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $24.00 to $25.00 in a research report on Monday, June 3rd. UBS Group raised their target price on MGIC Investment from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd.

MGIC Investment Stock Down 1.7 %

Shares of MTG opened at $21.37 on Friday. MGIC Investment has a 52 week low of $15.11 and a 52 week high of $22.43. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 7.20 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a fifty day moving average of $20.76 and a 200-day moving average of $20.20.

MGIC Investment (NYSE:MTG) last announced its quarterly 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. The company had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $301.62 million. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. MGIC Investment’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. As a group, sell-side analysts anticipate that MGIC Investment will post 2.52 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Thursday, May 9th were issued a dividend of $0.115 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.46 dividend on an annualized basis and a yield of 2.15%. MGIC Investment’s payout ratio is currently 17.69%.

Institutional Trading of MGIC Investment

Large investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System grew its stake in shares of MGIC Investment by 0.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 78,400 shares of the insurance provider’s stock valued at $1,753,000 after buying an additional 500 shares during the period. QRG Capital Management Inc. boosted its stake in MGIC Investment by 4.1% during the 4th quarter. QRG Capital Management Inc. now owns 14,703 shares of the insurance provider’s stock valued at $284,000 after purchasing an additional 584 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in MGIC Investment by 0.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 117,517 shares of the insurance provider’s stock valued at $2,267,000 after purchasing an additional 774 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in MGIC Investment by 2.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 39,747 shares of the insurance provider’s stock valued at $774,000 after purchasing an additional 812 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in MGIC Investment by 49.2% during the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock valued at $50,000 after purchasing an additional 849 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

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.