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

MGIC Investment (NYSE:MTG) had its target price raised by analysts at UBS Group from $25.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. UBS Group’s price objective would suggest a potential upside of 6.40% from the company’s current price.

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

MGIC Investment Stock Performance

Shares of MTG opened at $24.44 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The stock has a market capitalization of $6.19 billion, a P/E ratio of 8.43 and a beta of 1.29. The company’s fifty day moving average is $24.36 and its two-hundred day moving average is $24.78. MGIC Investment has a 1 year low of $18.98 and a 1 year high of $26.56.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. On average, sell-side analysts predict that MGIC Investment will post 2.71 earnings per share for the current year.

Institutional Investors Weigh In On MGIC Investment

Institutional investors and hedge funds have recently made changes to their positions in the business. Hara Capital LLC purchased a new stake in shares of MGIC Investment in the 3rd quarter worth about $25,000. UMB Bank n.a. boosted its position in shares of MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after buying an additional 938 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in MGIC Investment by 102.1% in the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 918 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in MGIC Investment by 61.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 794 shares in the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new position in MGIC Investment in the 4th quarter valued at about $54,000. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

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.