MGIC Investment Corporation (NYSE:MTG)‘s stock had its “buy” rating reissued by Compass Point in a research note issued to investors on Wednesday.

Several other brokerages have also recently weighed in on MTG. Zacks Investment Research raised shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday, August 22nd. BidaskClub raised shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Deutsche Bank AG boosted their price target on shares of MGIC Investment Corporation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, July 21st. Keefe, Bruyette & Woods reissued a “buy” rating and set a $13.00 price target on shares of MGIC Investment Corporation in a research report on Thursday, August 31st. Finally, BTIG Research reissued a “buy” rating and set a $14.00 price target (up previously from $12.00) on shares of MGIC Investment Corporation in a research report on Saturday, July 22nd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. MGIC Investment Corporation has an average rating of “Buy” and an average target price of $12.25.

Shares of MGIC Investment Corporation (NYSE MTG) traded up 0.80% during midday trading on Wednesday, hitting $12.56. 2,827,493 shares of the stock traded hands. The company’s 50 day moving average price is $11.84 and its 200-day moving average price is $11.22. MGIC Investment Corporation has a 12-month low of $7.84 and a 12-month high of $12.69. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 12.94 and a beta of 2.16.

MGIC Investment Corporation (NYSE:MTG) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.06. The firm had revenue of $263.31 million for the quarter, compared to analysts’ expectations of $263.43 million. MGIC Investment Corporation had a net margin of 34.99% and a return on equity of 16.56%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. On average, equities research analysts expect that MGIC Investment Corporation will post $1.14 EPS for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the business. Fox Run Management L.L.C. acquired a new position in MGIC Investment Corporation in the second quarter valued at about $116,000. Appleton Group LLC acquired a new position in MGIC Investment Corporation in the second quarter valued at about $119,000. Advisors Asset Management Inc. acquired a new position in MGIC Investment Corporation in the second quarter valued at about $121,000. Sawgrass Asset Management LLC acquired a new position in MGIC Investment Corporation in the second quarter valued at about $123,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in MGIC Investment Corporation in the second quarter valued at about $132,000. 89.58% of the stock is currently owned by institutional investors.

About MGIC Investment Corporation

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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