MGIC Investment (NYSE:MTG) Stock Price Expected to Rise, UBS Group Analyst Says

MGIC Investment (NYSE:MTG) had its target price boosted by equities researchers at UBS Group from $25.00 to $26.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. UBS Group’s price objective points to a potential upside of 5.82% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Compass Point reissued a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their price objective on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Royal Bank of Canada reduced their price objective on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Finally, Barclays increased their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.75.

MGIC Investment Trading Down 0.5 %

Shares of MGIC Investment stock opened at $24.57 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 8.46 and a beta of 1.29. The business has a fifty day simple moving average of $24.36 and a 200-day simple moving average of $24.78. MGIC Investment has a fifty-two week low of $18.98 and a fifty-two week high of $26.56.

MGIC Investment (NYSE:MTG) last announced its earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating 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%. On average, equities analysts forecast that MGIC Investment will post 2.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MTG. Hara Capital LLC acquired a new position in shares of MGIC Investment during the 3rd quarter valued at about $25,000. UMB Bank n.a. increased its holdings in shares of MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 938 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 918 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of MGIC Investment by 61.9% during the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 794 shares during the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of MGIC Investment during the 4th quarter valued at about $54,000. 95.58% of the stock is 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.