Brokerages Set MGIC Investment Co. (NYSE:MTG) PT at $25.86

MGIC Investment Co. (NYSE:MTG) has been assigned an average rating of “Hold” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $26.25.

Several equities analysts recently weighed in on MTG shares. Royal Bank of Canada cut their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Barclays raised their price target on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Compass Point reiterated a “neutral” rating and issued a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their target price on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. Finally, Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price target for the company from $26.00 to $25.00 in a research note on Monday, December 9th.

MGIC Investment Trading Down 0.6 %

MTG stock opened at $25.30 on Monday. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. MGIC Investment has a twelve month low of $18.68 and a twelve month high of $26.56. The company has a market cap of $6.41 billion, a P/E ratio of 8.72, a PEG ratio of 2.01 and a beta of 1.29. The business has a fifty day moving average of $24.47 and a 200-day moving average of $24.77.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data 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 return on equity of 14.86% and a net margin of 63.18%. As a group, equities research analysts expect that MGIC Investment will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be given a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.06%. MGIC Investment’s dividend payout ratio is presently 17.93%.

Institutional Trading of MGIC Investment

Several hedge funds have recently bought and sold shares of MTG. State of Alaska Department of Revenue increased its position in shares of MGIC Investment by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock worth $3,858,000 after acquiring an additional 540 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in 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 worth $897,000 after purchasing an additional 579 shares in the last quarter. Lindenwold Advisors INC raised its stake in shares of MGIC Investment by 3.7% in the 3rd quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider’s stock valued at $425,000 after purchasing an additional 592 shares during the period. US Bancorp DE lifted its holdings 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 valued at $243,000 after purchasing an additional 600 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of MGIC Investment by 6.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider’s stock worth $248,000 after buying an additional 608 shares during the period. 95.58% of the stock is currently owned by institutional investors and hedge funds.

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.