Brokerages Set MGIC Investment Co. (NYSE:MTG) PT at $25.50

Shares of MGIC Investment Co. (NYSE:MTG) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $25.50.

A number of research analysts recently weighed in on MTG shares. BTIG Research upped their price objective on MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Roth Mkm increased their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays boosted their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada dropped their target price on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th.

MGIC Investment Stock Down 0.8 %

MTG stock opened at $26.11 on Wednesday. The stock has a market capitalization of $6.62 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 1.85 and a beta of 1.28. The company has a fifty day moving average of $25.22 and a 200-day moving average of $23.62. 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 has a one year low of $17.31 and a one year high of $26.56.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The firm had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. During the same quarter last year, the firm earned $0.64 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts expect that MGIC Investment will post 2.81 EPS for the current year.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.13 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 1.99%. MGIC Investment’s dividend payout ratio is presently 18.31%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in MGIC Investment by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider’s stock valued at $326,375,000 after purchasing an additional 556,859 shares during the last quarter. State Street Corp grew its holdings in shares of MGIC Investment by 0.8% during the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock worth $232,767,000 after buying an additional 73,851 shares in the last quarter. American Century Companies Inc. raised its position in shares of MGIC Investment by 1.5% in the second quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider’s stock valued at $73,167,000 after buying an additional 50,307 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of MGIC Investment by 0.3% during the second quarter. Los Angeles Capital Management LLC now owns 1,438,727 shares of the insurance provider’s stock valued at $31,005,000 after buying an additional 4,602 shares during the period. Finally, Vest Financial LLC boosted its position in MGIC Investment by 3.7% during the third quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider’s stock worth $28,499,000 after acquiring an additional 39,502 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

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.