Barclays Issues Positive Forecast for MGIC Investment (NYSE:MTG) Stock Price

MGIC Investment (NYSE:MTG) had its price objective increased by Barclays from $25.00 to $26.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

MTG has been the topic of several other research reports. Keefe, Bruyette & Woods reduced their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. Compass Point reiterated a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday. Royal Bank of Canada lowered their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Finally, Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.25.

MGIC Investment Stock Down 0.4 %

Shares of NYSE:MTG opened at $25.50 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $6.46 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 2.02 and a beta of 1.29. The firm has a fifty day moving average of $24.52 and a 200 day moving average of $24.74. MGIC Investment has a 52-week low of $18.68 and a 52-week high of $26.56.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. As a group, research analysts anticipate that MGIC Investment will post 2.85 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.04%. MGIC Investment’s dividend payout ratio is 17.93%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue increased its holdings in MGIC Investment by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock worth $3,858,000 after buying an additional 540 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in shares of MGIC Investment by 1.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider’s stock valued at $897,000 after acquiring an additional 579 shares during the last quarter. Lindenwold Advisors INC grew its stake in shares of MGIC Investment by 3.7% in the third quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider’s stock worth $425,000 after acquiring an additional 592 shares during the period. US Bancorp DE grew its stake in shares of MGIC Investment by 6.2% in the fourth quarter. US Bancorp DE now owns 10,249 shares of the insurance provider’s stock worth $243,000 after acquiring an additional 600 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of MGIC Investment by 4.8% during the fourth quarter. Inspire Investing LLC now owns 16,883 shares of the insurance provider’s stock valued at $400,000 after purchasing an additional 766 shares during the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Company Profile

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.