Analysts Set MGIC Investment Corporation (NYSE:MTG) PT at $26.83

MGIC Investment Corporation (NYSE:MTG) has earned a consensus rating of “Hold” from the six ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $26.80.

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (a-)” rating on shares of MGIC Investment in a research note on Wednesday, October 8th. Barclays upped their target price on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “cautious” rating in a research report on Monday, October 6th.

MGIC Investment Stock Performance

Shares of MGIC Investment stock opened at $28.48 on Wednesday. The business’s fifty day simple moving average is $27.76 and its 200 day simple moving average is $27.03. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.13. MGIC Investment has a 12 month low of $21.94 and a 12 month high of $29.01. The firm has a market capitalization of $6.37 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.92.

MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. MGIC Investment had a return on equity of 14.63% and a net margin of 61.96%.The firm had revenue of $304.51 million for the quarter, compared to analyst estimates of $308.16 million. During the same period in the previous year, the company posted $0.77 earnings per share. The business’s revenue was down .7% on a year-over-year basis. As a group, analysts anticipate that MGIC Investment will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, November 6th. MGIC Investment’s dividend payout ratio is currently 19.29%.

Insider Buying and Selling

In related news, EVP Paula C. Maggio sold 20,000 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $27.44, for a total transaction of $548,800.00. Following the transaction, the executive vice president owned 117,395 shares in the company, valued at $3,221,318.80. The trade was a 14.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Salvatore A. Miosi sold 30,000 shares of MGIC Investment stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $27.52, for a total value of $825,600.00. Following the completion of the sale, the chief operating officer owned 159,401 shares in the company, valued at approximately $4,386,715.52. This represents a 15.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 219,203 shares of company stock valued at $5,989,909 over the last ninety days. 1.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. WPG Advisers LLC purchased a new position in shares of MGIC Investment during the first quarter valued at about $26,000. True Wealth Design LLC raised its position in shares of MGIC Investment by 262.5% in the 2nd quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 727 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in shares of MGIC Investment in the 3rd quarter valued at approximately $28,000. Hantz Financial Services Inc. lifted its stake in shares of MGIC Investment by 3,067.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 1,043 shares during the period. Finally, SBI Securities Co. Ltd. boosted its position in shares of MGIC Investment by 61.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 395 shares in the last quarter. 95.58% of the stock is currently 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.