MGIC Investment (NYSE:MTG) Stock Passes Above 200-Day Moving Average – Time to Sell?

MGIC Investment Co. (NYSE:MTG) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.47 and traded as high as $24.65. MGIC Investment shares last traded at $24.48, with a volume of 1,954,303 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays boosted their target price on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lowered their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and cut their target price for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Finally, Royal Bank of Canada lowered their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, MGIC Investment presently has a consensus rating of “Hold” and an average price target of $25.86.

MGIC Investment Trading Up 0.6 %

The stock has a 50-day moving average price of $24.51 and a two-hundred day moving average price of $24.49. The stock has a market capitalization of $6.20 billion, a PE ratio of 8.62, a PEG ratio of 1.72 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.11. The business had revenue of $306.65 million during the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, equities analysts forecast that MGIC Investment Co. will post 2.85 earnings per share for the current year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is 18.31%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Hara Capital LLC bought a new stake in shares of MGIC Investment during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new stake in MGIC Investment in the 3rd quarter valued at $33,000. UMB Bank n.a. lifted its stake in 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 purchasing an additional 938 shares in the last quarter. Brooklyn Investment Group purchased a new stake in MGIC Investment in the 3rd quarter worth $69,000. Finally, Covestor Ltd increased its holdings in shares of MGIC Investment by 65.5% in the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 1,341 shares during the last quarter. 95.58% of the stock is 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.