MGIC Investment (NYSE:MTG) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Friday.
A number of other brokerages have also recently commented on MTG. B. Riley reiterated a “buy” rating and issued a $19.00 target price on shares of MGIC Investment in a research report on Thursday, January 18th. Wells Fargo & Co reiterated a “buy” rating on shares of MGIC Investment in a research report on Friday, December 8th. BTIG Research lifted their target price on shares of MGIC Investment from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Royal Bank of Canada started coverage on shares of MGIC Investment in a research report on Wednesday, December 20th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, Deutsche Bank upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $18.00 in a research report on Monday, January 8th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. MGIC Investment has an average rating of “Buy” and a consensus target price of $15.63.
Shares of MGIC Investment (NYSE MTG) traded down $0.28 during trading hours on Friday, reaching $14.94. 2,480,477 shares of the company were exchanged, compared to its average volume of 2,520,961. The stock has a market cap of $5,536.27, a PE ratio of 15.89, a PEG ratio of 1.48 and a beta of 2.28. MGIC Investment has a one year low of $9.68 and a one year high of $16.21. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27.
Several hedge funds have recently added to or reduced their stakes in MTG. Nisa Investment Advisors LLC increased its position in shares of MGIC Investment by 125.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,190 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 4,000 shares during the period. Wealthcare Advisory Partners LLC purchased a new position in shares of MGIC Investment in the third quarter valued at about $107,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of MGIC Investment during the second quarter valued at about $132,000. Eqis Capital Management Inc. purchased a new position in shares of MGIC Investment during the fourth quarter valued at about $144,000. Finally, Zeke Capital Advisors LLC purchased a new position in shares of MGIC Investment during the third quarter valued at about $150,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.
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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