MGIC Investment (NYSE:MTG) Price Target Increased to $25.00 by Analysts at BTIG Research

MGIC Investment (NYSE:MTG) had its price objective boosted by BTIG Research from $22.00 to $25.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other analysts have also commented on MTG. UBS Group lifted their price target on shares of MGIC Investment from $21.00 to $22.00 and gave the stock a neutral rating in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods raised shares of MGIC Investment from a market perform rating to an outperform rating and lifted their target price for the stock from $24.00 to $25.00 in a research report on Monday, June 3rd. Roth Mkm increased their price target on MGIC Investment from $24.00 to $30.00 and gave the company a buy rating in a report on Friday. Finally, Barclays lifted their price objective on MGIC Investment from $21.00 to $23.00 and gave the stock an equal weight rating in a report on Friday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $24.33.

MGIC Investment Stock Up 1.2 %

MTG traded up $0.28 during trading on Monday, reaching $23.70. The stock had a trading volume of 1,362,686 shares, compared to its average volume of 1,882,833. The company has a current ratio of 1.11, a quick ratio of 1.05 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 3.02 and a beta of 1.28. The stock’s 50 day moving average is $22.09 and its two-hundred day moving average is $20.96. MGIC Investment has a one year low of $16.30 and a one year high of $25.93.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.15. MGIC Investment had a return on equity of 14.97% and a net margin of 63.19%. The company had revenue of $305.28 million during the quarter, compared to analyst estimates of $301.02 million. During the same quarter last year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, analysts expect that MGIC Investment will post 2.54 earnings per share for the current year.

MGIC Investment Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be paid a dividend of $0.13 per share. This is an increase from MGIC Investment’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.19%. MGIC Investment’s dividend payout ratio is presently 20.00%.

Institutional Investors Weigh In On MGIC Investment

Large investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its position in MGIC Investment by 0.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 78,400 shares of the insurance provider’s stock worth $1,753,000 after purchasing an additional 500 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in MGIC Investment by 1.6% in the second quarter. Nations Financial Group Inc. IA ADV now owns 35,306 shares of the insurance provider’s stock worth $761,000 after purchasing an additional 565 shares in the last quarter. QRG Capital Management Inc. increased its holdings in MGIC Investment by 4.1% during the 4th quarter. QRG Capital Management Inc. now owns 14,703 shares of the insurance provider’s stock worth $284,000 after purchasing an additional 584 shares during the period. Fortem Financial Group LLC raised its position in MGIC Investment by 1.0% during the 2nd quarter. Fortem Financial Group LLC now owns 75,447 shares of the insurance provider’s stock valued at $1,626,000 after purchasing an additional 747 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of MGIC Investment by 0.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 117,517 shares of the insurance provider’s stock worth $2,267,000 after buying an additional 774 shares during the period. 95.58% of the stock is owned by 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.