MGIC Investment Co. (NYSE:MTG) Given Average Rating of “Hold” by Analysts

Shares of MGIC Investment Co. (NYSE:MTG) have earned a consensus rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $21.08.

A number of analysts recently commented on MTG shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $24.00 price objective (up previously from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Roth Mkm boosted their price objective on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada raised their target price on shares of MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd.

MGIC Investment Stock Performance

NYSE:MTG opened at $20.88 on Friday. MGIC Investment has a twelve month low of $14.51 and a twelve month high of $22.43. The company has a market capitalization of $5.57 billion, a P/E ratio of 8.03, a price-to-earnings-growth ratio of 1.67 and a beta of 1.24. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $20.67 and a two-hundred day moving average price of $19.33.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. The business had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $301.62 million. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the company posted $0.54 EPS. As a group, research analysts expect that MGIC Investment will post 2.48 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Thursday, May 9th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.46 dividend on an annualized basis and a yield of 2.20%. MGIC Investment’s payout ratio is 17.69%.

Institutional Trading of MGIC Investment

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in MGIC Investment in the fourth quarter valued at approximately $30,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of MGIC Investment in the 4th quarter valued at $31,000. Quarry LP lifted its holdings in shares of MGIC Investment by 244.4% during the 4th quarter. Quarry LP now owns 1,977 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 1,403 shares in the last quarter. CWM LLC boosted its position in MGIC Investment by 249.1% during the 1st quarter. CWM LLC now owns 2,175 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 1,552 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in MGIC Investment in the first quarter valued at about $50,000. 95.58% of the stock is owned by hedge funds and other institutional investors.

About MGIC Investment

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.