Brokerages Set MGIC Investment Co. (NYSE:MTG) Price Target at $21.08

Shares of MGIC Investment Co. (NYSE:MTG) have been given an average recommendation of “Hold” by the five research firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $21.08.

A number of equities analysts recently weighed in on the stock. Roth Mkm boosted their price objective on shares of MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $24.00 price objective (up from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Finally, Royal Bank of Canada boosted their price objective on shares of MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. DGS Capital Management LLC lifted its holdings in shares of MGIC Investment by 27.1% in the 1st quarter. DGS Capital Management LLC now owns 82,452 shares of the insurance provider’s stock valued at $1,844,000 after acquiring an additional 17,557 shares during the last quarter. Bank of New Hampshire bought a new position in shares of MGIC Investment in the 1st quarter valued at about $1,726,000. CWM LLC lifted its holdings in shares of MGIC Investment by 249.1% in the 1st quarter. CWM LLC now owns 2,175 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 1,552 shares during the last quarter. Quarry LP lifted its holdings in shares of MGIC Investment by 244.4% in the 4th quarter. Quarry LP now owns 1,977 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 1,403 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of MGIC Investment by 5.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 164,328 shares of the insurance provider’s stock valued at $3,170,000 after acquiring an additional 8,642 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $19.58 on Tuesday. MGIC Investment has a twelve month low of $13.97 and a twelve month high of $22.43. The firm has a market cap of $5.28 billion, a P/E ratio of 7.86, a PEG ratio of 1.63 and a beta of 1.24. The company has a 50 day moving average of $20.32 and a 200 day moving average of $18.96. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. The company had revenue of $284.72 million during the quarter, compared to analyst estimates of $302.96 million. As a group, research analysts expect that MGIC Investment will post 2.43 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Wednesday, February 14th. MGIC Investment’s dividend payout ratio (DPR) is presently 18.47%.

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.