MGIC Investment Co. (NYSE:MTG – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $24.33.
MTG has been the subject of a number of recent research reports. BTIG Research boosted their target price on MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Roth Mkm boosted their target price on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays boosted their target price on MGIC Investment from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd.
Check Out Our Latest Analysis on MGIC Investment
Hedge Funds Weigh In On MGIC Investment
MGIC Investment Stock Performance
NYSE:MTG opened at $25.70 on Tuesday. The business’s 50-day moving average price is $24.74 and its two-hundred day moving average price is $22.48. MGIC Investment has a twelve month low of $16.32 and a twelve month high of $25.93. The stock has a market cap of $6.85 billion, a P/E ratio of 9.88, a PEG ratio of 1.37 and a beta of 1.28. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13.
MGIC Investment (NYSE:MTG – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.15. The firm had revenue of $305.28 million for the quarter, compared to analysts’ expectations of $301.02 million. MGIC Investment had a return on equity of 14.97% and a net margin of 63.19%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 EPS. As a group, equities analysts predict that MGIC Investment will post 2.76 EPS for the current fiscal year.
MGIC Investment Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.13 dividend. This is a boost from MGIC Investment’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, August 8th. MGIC Investment’s payout ratio is 20.00%.
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.
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