MGIC Investment (NYSE:MTG) had its target price lifted by stock analysts at BTIG Research from $16.00 to $18.00 in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the insurance provider’s stock. BTIG Research’s price target would suggest a potential upside of 22.37% from the stock’s current price.
Several other research analysts have also commented on MTG. Zacks Investment Research upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, August 22nd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $13.00 price objective on shares of MGIC Investment in a research note on Thursday, August 31st. 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 research note on Wednesday, October 11th. FBR & Co reiterated a “buy” rating on shares of MGIC Investment in a research note on Wednesday, October 18th. Finally, Barclays boosted their price objective on shares of MGIC Investment from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, October 19th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $14.71.
MGIC Investment (MTG) opened at $14.71 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $5,528.86, a P/E ratio of 12.23, a P/E/G ratio of 1.45 and a beta of 2.26. MGIC Investment has a 52 week low of $9.68 and a 52 week high of $15.64.
A number of large investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC grew its position in MGIC Investment by 11.1% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,032,915 shares of the insurance provider’s stock worth $12,942,000 after purchasing an additional 102,991 shares during the last quarter. AXA purchased a new stake in MGIC Investment during the 3rd quarter worth approximately $11,924,000. Public Employees Retirement System of Ohio grew its position in MGIC Investment by 540.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 319,825 shares of the insurance provider’s stock worth $4,007,000 after purchasing an additional 269,870 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of MGIC Investment in the 3rd quarter valued at $107,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of MGIC Investment by 0.9% in the 3rd quarter. Janus Henderson Group PLC now owns 4,062,785 shares of the insurance provider’s stock valued at $50,907,000 after acquiring an additional 34,512 shares during the last quarter. 91.11% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This story was originally reported by American Banking and Market News and is owned by of American Banking and Market News. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/12/20/mgic-investment-mtg-price-target-increased-to-18-00-by-analysts-at-btig-research.html.
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.
