Other analysts also recently issued reports about the company. B. Riley restated a buy rating and issued a $19.00 price target on shares of MGIC Investment in a research report on Thursday, January 18th. ValuEngine downgraded MGIC Investment from a strong-buy rating to a buy rating in a research report on Wednesday, January 10th. Deutsche Bank upgraded MGIC Investment from a hold rating to a buy rating and raised their price target for the stock from $15.00 to $18.00 in a research report on Monday, January 8th. BTIG Research raised their price target on MGIC Investment from $16.00 to $18.00 and gave the stock a buy rating in a research report on Wednesday, December 20th. Finally, Zacks Investment Research downgraded MGIC Investment from a buy rating to a hold rating in a research report on Monday, March 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $16.33.
NYSE MTG opened at $10.91 on Monday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.26. The company has a market cap of $4,027.56, a PE ratio of 7.93, a PEG ratio of 1.09 and a beta of 1.95. MGIC Investment has a one year low of $10.07 and a one year high of $16.21.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in MGIC Investment by 1.6% in the fourth quarter. BlackRock Inc. now owns 24,706,723 shares of the insurance provider’s stock worth $348,611,000 after purchasing an additional 397,372 shares during the period. Clearbridge Investments LLC increased its stake in MGIC Investment by 4.1% in the fourth quarter. Clearbridge Investments LLC now owns 5,764,294 shares of the insurance provider’s stock worth $81,334,000 after purchasing an additional 228,163 shares during the period. Millennium Management LLC increased its stake in MGIC Investment by 23.0% in the fourth quarter. Millennium Management LLC now owns 4,621,941 shares of the insurance provider’s stock worth $65,216,000 after purchasing an additional 864,077 shares during the period. Victory Capital Management Inc. increased its stake in MGIC Investment by 18.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,516,551 shares of the insurance provider’s stock worth $63,729,000 after purchasing an additional 695,195 shares during the period. Finally, Janus Henderson Group PLC increased its stake in MGIC Investment by 0.9% in the third quarter. Janus Henderson Group PLC now owns 4,062,785 shares of the insurance provider’s stock worth $50,907,000 after purchasing an additional 34,512 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.
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MGIC Investment Company Profile
MGIC Investment Corporation is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. The Company provides mortgage insurance to lenders throughout the United States and to government-sponsored entities to protect against loss from defaults on low down payment residential mortgage loans.
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