MGIC Investment Co. (NYSE:MTG) Given Average Rating of “Hold” by Brokerages

Shares of MGIC Investment Co. (NYSE:MTG) have been assigned an average rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat.com reports. One equities 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 1 year price target among brokerages that have issued ratings on the stock in the last year is $26.75.

MTG has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. UBS Group boosted their target price on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods dropped 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. Compass Point reissued a “neutral” rating and set a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Finally, Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and dropped their target price for the company from $26.00 to $25.00 in a research report on Monday, December 9th.

Insider Activity at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MGIC Investment

Several large investors have recently bought and sold shares of MTG. EverSource Wealth Advisors LLC boosted its position in shares of MGIC Investment by 21.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 419 shares in the last quarter. Xponance Inc. boosted its holdings in MGIC Investment by 1.3% in the fourth quarter. Xponance Inc. now owns 35,320 shares of the insurance provider’s stock valued at $837,000 after purchasing an additional 442 shares in the last quarter. ProShare Advisors LLC increased its stake in MGIC Investment by 4.9% in the fourth quarter. ProShare Advisors LLC now owns 11,854 shares of the insurance provider’s stock valued at $281,000 after purchasing an additional 553 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in MGIC Investment by 1.6% during the fourth 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. Finally, US Bancorp DE lifted its position in shares of MGIC Investment by 6.2% during the 4th quarter. US Bancorp DE now owns 10,249 shares of the insurance provider’s stock worth $243,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Performance

MGIC Investment stock opened at $24.08 on Tuesday. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 8.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The firm has a 50 day simple moving average of $24.31 and a 200-day simple moving average of $24.68. MGIC Investment has a 1-year low of $19.26 and a 1-year high of $26.56.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) 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%. On average, analysts expect that MGIC Investment will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s dividend payout ratio is presently 17.93%.

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.