MGIC Investment (NYSE:MTG) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Co reiterated an “outperform” rating and set a $17.00 price objective on shares of MGIC Investment in a report on Tuesday, November 28th. Barclays upped their price objective 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. Zacks Investment Research upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Monday, October 23rd. FBR & Co reiterated a “buy” rating on shares of MGIC Investment in a report on Wednesday, October 18th. Finally, Compass Point reiterated a “buy” rating and set a $15.25 price objective (up previously from $13.00) on shares of MGIC Investment in a report on Wednesday, October 11th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. MGIC Investment currently has a consensus rating of “Buy” and an average price target of $15.35.

Shares of MGIC Investment (NYSE MTG) traded up $0.20 during midday trading on Wednesday, hitting $14.68. 2,195,600 shares of the stock traded hands, compared to its average volume of 2,389,983. MGIC Investment has a 52-week low of $9.68 and a 52-week high of $15.64. The firm has a market capitalization of $5,480.00, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.29 and a beta of 2.29. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.06. MGIC Investment had a net margin of 41.08% and a return on equity of 16.41%. The firm had revenue of $270.30 million for the quarter, compared to analyst estimates of $267.85 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. sell-side analysts forecast that MGIC Investment will post 1.21 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fiera Capital Corp raised its holdings in shares of MGIC Investment by 3.6% in the 2nd quarter. Fiera Capital Corp now owns 23,955 shares of the insurance provider’s stock worth $268,000 after acquiring an additional 825 shares during the last quarter. Comerica Bank raised its holdings in shares of MGIC Investment by 8.8% in the 2nd quarter. Comerica Bank now owns 13,806 shares of the insurance provider’s stock worth $163,000 after acquiring an additional 1,111 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MGIC Investment by 11.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,009 shares of the insurance provider’s stock worth $146,000 after acquiring an additional 1,312 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of MGIC Investment by 13.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 25,800 shares of the insurance provider’s stock worth $288,000 after acquiring an additional 3,020 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of MGIC Investment by 10.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 32,517 shares of the insurance provider’s stock worth $364,000 after acquiring an additional 3,036 shares during the last quarter. Institutional investors own 91.11% of the company’s stock.

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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.

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Analyst Recommendations for MGIC Investment (NYSE:MTG)

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