MGIC Investment’s (MTG) “Neutral” Rating Reaffirmed at Compass Point

Compass Point reissued their neutral rating on shares of MGIC Investment (NYSE:MTG) in a report published on Wednesday morning, Marketbeat Ratings reports. The firm currently has a $27.00 price target on the insurance provider’s stock, up from their previous price target of $24.00.

MTG has been the subject of several other reports. Royal Bank of Canada decreased their price target on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Barclays raised their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods cut their price target 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. Finally, Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $26.00 to $25.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, MGIC Investment has an average rating of “Hold” and a consensus price target of $26.25.

MGIC Investment Trading Down 0.4 %

MTG opened at $25.50 on Wednesday. The firm’s fifty day simple moving average is $24.52 and its 200 day simple moving average is $24.74. The stock has a market capitalization of $6.46 billion, a P/E ratio of 8.98, a P/E/G ratio of 2.02 and a beta of 1.29. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment has a 12 month low of $18.68 and a 12 month high of $26.56.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. As a group, research analysts anticipate that MGIC Investment will post 2.85 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.04%. MGIC Investment’s payout ratio is 17.93%.

Hedge Funds Weigh In On MGIC Investment

A number of institutional investors have recently bought and sold shares of the business. State Street Corp lifted its position in shares of MGIC Investment by 0.8% in the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock valued at $232,767,000 after buying an additional 73,851 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in MGIC Investment by 8.2% during the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider’s stock valued at $130,289,000 after purchasing an additional 415,586 shares during the last quarter. NewEdge Wealth LLC boosted its position in MGIC Investment by 11.6% during the fourth quarter. NewEdge Wealth LLC now owns 1,837,821 shares of the insurance provider’s stock worth $43,575,000 after purchasing an additional 190,450 shares during the period. Franklin Resources Inc. increased its holdings in shares of MGIC Investment by 6.5% in the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after purchasing an additional 98,369 shares during the last quarter. Finally, Vest Financial LLC raised its position in shares of MGIC Investment by 33.4% in the fourth quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider’s stock valued at $35,213,000 after purchasing an additional 371,882 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.

About MGIC Investment

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.