Brokerages Set MGIC Investment Corporation (MTG) PT at $11.69

Shares of MGIC Investment Corporation (NYSE:MTG) have been assigned a consensus rating of “Buy” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $11.69.

A number of analysts have recently issued reports on MTG shares. ValuEngine raised MGIC Investment Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Compass Point raised MGIC Investment Corporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 12th. Zacks Investment Research lowered MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 11th. MKM Partners reaffirmed a “buy” rating and set a $13.00 target price (up from $10.00) on shares of MGIC Investment Corporation in a research report on Tuesday, April 25th. Finally, BTIG Research reaffirmed a “buy” rating and set a $12.00 target price on shares of MGIC Investment Corporation in a research report on Wednesday, April 19th.

A number of institutional investors have recently modified their holdings of MTG. Private Advisor Group LLC increased its position in shares of MGIC Investment Corporation by 0.5% in the fourth quarter. Private Advisor Group LLC now owns 12,552 shares of the insurance provider’s stock worth $130,000 after buying an additional 68 shares during the last quarter. World Asset Management Inc increased its position in shares of MGIC Investment Corporation by 0.7% in the first quarter. World Asset Management Inc now owns 12,157 shares of the insurance provider’s stock worth $123,000 after buying an additional 81 shares during the last quarter. Gotham Asset Management LLC increased its position in shares of MGIC Investment Corporation by 0.9% in the first quarter. Gotham Asset Management LLC now owns 38,583 shares of the insurance provider’s stock worth $391,000 after buying an additional 338 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of MGIC Investment Corporation by 0.9% in the first quarter. Hillsdale Investment Management Inc. now owns 112,580 shares of the insurance provider’s stock worth $1,141,000 after buying an additional 980 shares during the last quarter. Finally, Quadrature Capital Ltd increased its position in shares of MGIC Investment Corporation by 2.5% in the fourth quarter. Quadrature Capital Ltd now owns 86,817 shares of the insurance provider’s stock worth $885,000 after buying an additional 2,155 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Shares of MGIC Investment Corporation (NYSE MTG) traded down 0.28% during trading on Friday, hitting $10.84. The stock had a trading volume of 3,097,489 shares. The company’s 50 day moving average price is $10.80 and its 200 day moving average price is $10.56. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 11.72 and a beta of 2.10. MGIC Investment Corporation has a 12 month low of $5.36 and a 12 month high of $11.40.

MGIC Investment Corporation (NYSE:MTG) last announced its earnings results on Thursday, April 20th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.07. MGIC Investment Corporation had a return on equity of 17.00% and a net margin of 34.10%. The business had revenue of $260.90 million for the quarter, compared to analyst estimates of $262.97 million. During the same period in the previous year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts expect that MGIC Investment Corporation will post $1.05 earnings per share for the current fiscal year.

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MGIC Investment Corporation 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.

Analyst Recommendations for MGIC Investment Corporation (NYSE:MTG)

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