MGIC Investment Corporation (MTG) Rating Reiterated by Compass Point

MGIC Investment Corporation (NYSE:MTG)‘s stock had its “buy” rating reiterated by investment analysts at Compass Point in a research report issued to clients and investors on Wednesday.

Several other research firms have also issued reports on MTG. Zacks Investment Research upgraded shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Tuesday, August 22nd. BidaskClub upgraded shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Deutsche Bank AG boosted their price objective on shares of MGIC Investment Corporation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, July 21st. Keefe, Bruyette & Woods restated a “buy” rating and issued a $13.00 price objective on shares of MGIC Investment Corporation in a report on Thursday, August 31st. Finally, BTIG Research restated a “buy” rating and issued a $14.00 price objective (up from $12.00) on shares of MGIC Investment Corporation in a report on Saturday, July 22nd. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $12.25.

MGIC Investment Corporation (NYSE:MTG) traded up 1.90% on Wednesday, reaching $12.88. The company had a trading volume of 1,749,201 shares. MGIC Investment Corporation has a one year low of $7.94 and a one year high of $12.92. The company’s 50 day moving average is $11.86 and its 200-day moving average is $11.23. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 13.26 and a beta of 2.16.

MGIC Investment Corporation (NYSE:MTG) last released its earnings results on Thursday, July 20th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.06. MGIC Investment Corporation had a net margin of 34.99% and a return on equity of 16.56%. The firm had revenue of $263.31 million during the quarter, compared to analyst estimates of $263.43 million. During the same period last year, the business earned $0.26 earnings per share. The business’s revenue was down .1% on a year-over-year basis. On average, equities research analysts expect that MGIC Investment Corporation will post $1.14 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of MTG. Fox Run Management L.L.C. bought a new stake in shares of MGIC Investment Corporation during the 2nd quarter valued at $116,000. Appleton Group LLC bought a new stake in shares of MGIC Investment Corporation during the 2nd quarter valued at $119,000. Advisors Asset Management Inc. bought a new stake in shares of MGIC Investment Corporation during the 2nd quarter valued at $121,000. Sawgrass Asset Management LLC bought a new stake in shares of MGIC Investment Corporation during the 2nd quarter valued at $123,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of MGIC Investment Corporation during the 2nd quarter valued at $132,000. 89.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Corporation 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.

Analyst Recommendations for MGIC Investment Corporation (NYSE:MTG)

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