NYSE:MTGMGIC Investment Stock Price, Forecast & News

MGIC Investment's stock was trading at $10.43 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization (WHO). Since then, MTG shares have decreased by 21.5% and is now trading at $8.19. View which stocks have been most impacted by Coronavirus.

8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for MGIC Investment in the last year. There are currently 2 hold ratings and 6 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for MGIC Investment.

MGIC Investment is scheduled to release its next quarterly earnings announcement on Tuesday, July 28th 2020. View our earnings forecast for MGIC Investment.

MGIC Investment Corp. (NYSE:MTG) announced its quarterly earnings results on Thursday, May, 7th. The insurance provider reported $0.42 earnings per share (EPS) for the quarter, hitting the Thomson Reuters' consensus estimate of $0.42. The insurance provider had revenue of $306.90 million for the quarter, compared to analyst estimates of $304.61 million. MGIC Investment had a return on equity of 15.88% and a net margin of 54.64%. The company's revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. View MGIC Investment's earnings history.

MGIC Investment declared a quarterly dividend on Friday, April 24th. Investors of record on Monday, May 11th will be paid a dividend of $0.06 per share on Friday, May 29th. This represents a $0.24 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Friday, May 8th. View MGIC Investment's dividend history.

MGIC Investment declared that its board has approved a share repurchase plan on Wednesday, March 20th 2019, which allows the company to repurchase $200,000,000.00 in shares, according to EventVestor. This repurchase authorization allows the company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

8 brokers have issued 1-year target prices for MGIC Investment's shares. Their forecasts range from $9.00 to $14.00. On average, they anticipate MGIC Investment's stock price to reach $12.11 in the next year. This suggests a possible upside of 47.8% from the stock's current price. View analysts' price targets for MGIC Investment.

News articles about MTG stock have trended very negative on Thursday, InfoTrie Sentiment Analysis reports. InfoTrie identifies positive and negative press coverage by monitoring more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. MGIC Investment earned a news impact score of -3.3 on InfoTrie's scale. They also gave media coverage about the insurance provider a news buzz of 0.0 out of 10, meaning that recent press coverage is extremely unlikely to have an effect on the company's share price in the near future. View the latest news about MGIC Investment.

MGIC Investment saw a increase in short interest in June. As of June 15th, there was short interest totaling 21,110,000 shares, an increase of 32.6% from the May 31st total of 15,920,000 shares. Based on an average daily trading volume, of 7,590,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 6.3% of the shares of the stock are short sold. View MGIC Investment's Current Options Chain.

Some companies that are related to MGIC Investment include People's United Financial (PBCT), New York Community Bancorp (NYCB), TFS Financial (TFSL), Lendingtree (TREE), Radian Group (RDN), Washington Federal (WAFD), Simply Good Foods (SMPL), EverBank Financial (EVER), Walker & Dunlop (WD), Capitol Federal Financial (CFFN), WSFS Financial (WSFS), Northwest Bancshares (NWBI), OceanFirst Financial (OCFC), Provident Financial Services (PFS) and Oritani Financial (ORIT). View all competitors.

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

MGIC Investment trades on the New York Stock Exchange (NYSE) under the ticker symbol "MTG."

Shares of MTG can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of MTG stock can currently be purchased for approximately $8.19.

MGIC Investment has a market capitalization of $2.77 billion and generates $1.21 billion in revenue each year. The insurance provider earns $673.76 million in net income (profit) each year or $1.84 on an earnings per share basis. MGIC Investment employs 793 workers across the globe.

The official website for MGIC Investment is mtg.mgic.com.

MGIC Investment's mailing address is 250 EAST KILBOURN AVENUE, MILWAUKEE WI, 53202. The insurance provider can be reached via phone at 414-347-6480 or via email at [email protected]