MGIC Investment Corp. (NYSE:MTG) has received an average rating of “Buy” from the fifteen research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $14.19.

A number of research analysts recently weighed in on the stock. Wells Fargo & Company restated a “buy” rating on shares of MGIC Investment in a research note on Friday, December 8th. Deutsche Bank downgraded shares of MGIC Investment from a “buy” rating to a “hold” rating and set a $13.50 price target on the stock. in a report on Friday, November 3rd. Bank of America lifted their price target on shares of MGIC Investment from $13.00 to $16.00 and gave the company a “buy” rating in a report on Friday, October 20th. MKM Partners lifted their price target on shares of MGIC Investment to $16.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Barclays lifted their price target on shares of MGIC Investment from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, October 19th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aperio Group LLC increased its holdings in shares of MGIC Investment by 19.4% in the 2nd quarter. Aperio Group LLC now owns 50,848 shares of the insurance provider’s stock worth $569,000 after buying an additional 8,278 shares during the last quarter. World Asset Management Inc increased its holdings in shares of MGIC Investment by 10.0% in the 2nd quarter. World Asset Management Inc now owns 13,375 shares of the insurance provider’s stock worth $150,000 after buying an additional 1,218 shares during the last quarter. Sei Investments Co. increased its holdings in shares of MGIC Investment by 67.6% in the 2nd quarter. Sei Investments Co. now owns 132,198 shares of the insurance provider’s stock worth $1,480,000 after buying an additional 53,313 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of MGIC Investment by 162.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 77,500 shares of the insurance provider’s stock worth $868,000 after buying an additional 48,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of MGIC Investment by 1.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,307,408 shares of the insurance provider’s stock worth $25,843,000 after buying an additional 35,978 shares during the last quarter. Institutional investors own 91.31% of the company’s stock.

MGIC Investment (NYSE MTG) traded down $0.44 on Friday, hitting $14.70. 3,667,300 shares of the company were exchanged, compared to its average volume of 3,361,118. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27. MGIC Investment has a 52 week low of $9.68 and a 52 week high of $15.64. The stock has a market cap of $5,610.38, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.47 and a beta of 2.26.

MGIC Investment (NYSE:MTG) last released its earnings results on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. MGIC Investment had a net margin of 41.08% and a return on equity of 16.41%. The company had revenue of $270.30 million for the quarter, compared to analysts’ expectations of $267.85 million. During the same quarter in the previous year, the company earned $0.14 EPS. MGIC Investment’s revenue for the quarter was down 1.3% on a year-over-year basis. equities research analysts anticipate that MGIC Investment will post 1.21 EPS for the current year.

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MGIC Investment 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 (NYSE:MTG)

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