MGIC Investment Co. (NYSE:MTG) Given Consensus Recommendation of "Hold" by Analysts

MGIC Investment Co. (NYSE:MTG - Get Free Report) has earned an average recommendation of "Hold" from the eight research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $26.63.

A number of research firms have weighed in on MTG. Compass Point reissued a "neutral" rating and set a $28.00 target price (up previously from $27.00) on shares of MGIC Investment in a research report on Friday, May 23rd. Keefe, Bruyette & Woods cut their target price on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group increased their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th.

Insiders Place Their Bets

In related news, EVP Paula C. Maggio sold 20,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $26.49, for a total transaction of $529,800.00. Following the transaction, the executive vice president now owns 157,395 shares in the company, valued at $4,169,393.55. The trade was a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.05% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Asset Management One Co. Ltd. grew its stake in shares of MGIC Investment by 311.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 66,493 shares of the insurance provider's stock worth $1,575,000 after acquiring an additional 50,316 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of MGIC Investment in the 4th quarter worth $1,166,000. Allianz Asset Management GmbH grew its stake in shares of MGIC Investment by 8.2% in the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock worth $130,289,000 after acquiring an additional 415,586 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of MGIC Investment by 14.8% in the 4th quarter. Wells Fargo & Company MN now owns 90,987 shares of the insurance provider's stock worth $2,157,000 after acquiring an additional 11,721 shares in the last quarter. Finally, Captrust Financial Advisors bought a new stake in shares of MGIC Investment in the 4th quarter worth $230,000. Institutional investors and hedge funds own 95.58% of the company's stock.

MGIC Investment Stock Up 1.1%

MTG stock opened at $26.32 on Friday. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment has a 1 year low of $20.35 and a 1 year high of $26.92. The company has a fifty day simple moving average of $25.20 and a 200 day simple moving average of $24.68. The firm has a market cap of $6.25 billion, a PE ratio of 9.07 and a beta of 0.89.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. The business had revenue of $306.23 million during the quarter, compared to analyst estimates of $306.66 million. During the same quarter in the previous year, the business earned $0.65 EPS. MGIC Investment's quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts anticipate that MGIC Investment will post 2.71 EPS for the current fiscal year.

MGIC Investment announced that its board has authorized a share buyback program on Thursday, April 24th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 12.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Thursday, May 8th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Thursday, May 8th. MGIC Investment's payout ratio is 17.28%.

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.

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