MGIC Investment Stock Price, News & Analysis (NYSE:MTG)

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for MGIC Investment in the last twelve months. There are currently 3 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" MTG shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in MTG, but not buy additional shares or sell existing shares.
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5 brokers have issued 1-year price targets for MGIC Investment's shares. Their MTG share price targets range from $18.00 to $20.00. On average, they expect the company's share price to reach $18.88 in the next year. This suggests a possible upside of 7.3% from the stock's current price.
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MGIC Investment's stock was trading at $13.00 at the beginning of the year. Since then, MTG shares have increased by 35.3% and is now trading at $17.59.
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MGIC Investment saw a increase in short interest during the month of November. As of November 15th, there was short interest totaling 9,250,000 shares, an increase of 21.7% from the October 31st total of 7,600,000 shares. Based on an average trading volume of 1,690,000 shares, the days-to-cover ratio is presently 5.5 days. Approximately 3.4% of the shares of the stock are sold short.
View MGIC Investment's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 7th 2024.
View our MTG earnings forecast.

MGIC Investment Co. (NYSE:MTG) issued its quarterly earnings data on Tuesday, October, 31st. The insurance provider reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. The insurance provider had revenue of $296.50 million for the quarter, compared to analysts' expectations of $296.31 million. MGIC Investment had a net margin of 61.88% and a trailing twelve-month return on equity of 15.28%. The company's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share.

MGIC Investment declared a quarterly dividend on Thursday, October 26th. Shareholders of record on Thursday, November 9th will be paid a dividend of $0.115 per share on Tuesday, November 28th. This represents a $0.46 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, November 8th.
Read our dividend analysis for MTG.

MGIC Investment (NYSE:MTG) pays an annual dividend of $0.46 per share and currently has a dividend yield of 2.59%. The company has been increasing its dividend for 3 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 18.62%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MTG will have a dividend payout ratio of 19.41% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MTG.

ETFs with the largest weight of MGIC Investment (NYSE:MTG) stock in their portfolio include LeaderShares AlphaFactor Tactical Focused ETF (LSAT), Ballast Small/Mid Cap ETF (MGMT), First Trust NASDAQ Rising Dividend Achievers (RDVY), FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI), First Trust Financial AlphaDEX Fund (FXO), Invesco Dorsey Wright Financial Momentum ETF (PFI), SPDR S&P Bank ETF (KBE) and Invesco S&P MidCap Value with Momentum ETF (XMVM).

1 employees have rated MGIC Investment Chief Executive Officer Tim Mattke on Glassdoor.com. Tim Mattke has an approval rating of 100% among the company's employees. This puts Tim Mattke in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other MGIC Investment investors own include Oclaro (OCLR), Amarin (AMRN), Ford Motor (F), Radian Group (RDN), AT&T (T), Bank of America (BAC), Energy Transfer (ET), General Electric (GE), Coty (COTY) and Freeport-McMoRan (FCX).

MGIC Investment's stock is owned by many different institutional and retail investors. Top institutional shareholders include JPMorgan Chase & Co. (5.35%), Wellington Management Group LLP (3.77%), LSV Asset Management (3.76%), Morgan Stanley (2.16%), Clearbridge Investments LLC (2.07%) and Northern Trust Corp (1.77%). Insiders that own company stock include Daniel A Arrigoni, Gary A Poliner and James J Hughes.
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Shares of MTG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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