MGIC Investment (NYSE:MTG)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a research report issued to clients and investors on Thursday. They presently have a $19.00 target price on the insurance provider’s stock. B. Riley’s price target indicates a potential upside of 21.17% from the company’s previous close.
Other analysts have also issued research reports about the company. Wells Fargo & Co reissued an “outperform” rating and set a $17.00 price objective on shares of MGIC Investment in a research note on Tuesday, November 28th. ValuEngine lowered MGIC Investment from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 10th. Barclays increased their price objective on MGIC Investment from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, October 19th. Zacks Investment Research raised MGIC Investment from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Monday, October 23rd. Finally, FBR & Co reissued a “buy” rating on shares of MGIC Investment in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. MGIC Investment has an average rating of “Buy” and an average target price of $15.63.
Shares of MGIC Investment (NYSE MTG) traded up $0.01 during midday trading on Thursday, reaching $15.68. 2,032,027 shares of the company’s stock were exchanged, compared to its average volume of 2,767,331. MGIC Investment has a twelve month low of $9.68 and a twelve month high of $16.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $5,810.00, a PE ratio of 13.75, a P/E/G ratio of 1.24 and a beta of 2.29.
A number of hedge funds have recently made changes to their positions in MTG. Janus Henderson Group PLC purchased a new stake in MGIC Investment in the second quarter worth $45,117,000. Vanguard Group Inc. lifted its stake in MGIC Investment by 9.9% in the second quarter. Vanguard Group Inc. now owns 34,753,956 shares of the insurance provider’s stock worth $389,244,000 after acquiring an additional 3,120,511 shares during the period. Monarch Partners Asset Management LLC purchased a new stake in MGIC Investment in the third quarter worth $20,412,000. APG Asset Management N.V. purchased a new stake in MGIC Investment in the third quarter worth $15,536,000. Finally, Macquarie Group Ltd. lifted its stake in MGIC Investment by 37.5% in the second quarter. Macquarie Group Ltd. now owns 4,409,393 shares of the insurance provider’s stock worth $49,385,000 after acquiring an additional 1,201,682 shares during the period. 91.32% of the stock is owned by institutional investors.
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About MGIC Investment
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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