FBR & Co reaffirmed their buy rating on shares of MGIC Investment Corporation (NYSE:MTG) in a research note issued to investors on Wednesday morning.

Several other equities analysts also recently weighed in on the company. Deutsche Bank AG raised their price target on MGIC Investment Corporation from $13.00 to $13.50 and gave the stock a buy rating in a research report on Friday, July 21st. BTIG Research reaffirmed a buy rating and issued a $14.00 price objective (up previously from $12.00) on shares of MGIC Investment Corporation in a research report on Saturday, July 22nd. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $13.00 price objective on shares of MGIC Investment Corporation in a research report on Thursday, August 31st. Zacks Investment Research raised MGIC Investment Corporation from a hold rating to a buy rating and set a $13.00 price objective for the company in a research report on Tuesday, August 22nd. Finally, BidaskClub downgraded MGIC Investment Corporation from a buy rating to a hold rating in a research report on Friday, June 23rd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. MGIC Investment Corporation presently has a consensus rating of Buy and a consensus price target of $13.08.

Shares of MGIC Investment Corporation (NYSE MTG) traded up 2.07% on Wednesday, hitting $13.82. The stock had a trading volume of 2,788,358 shares. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 14.23 and a beta of 2.16. MGIC Investment Corporation has a one year low of $7.94 and a one year high of $13.83. The firm’s 50-day moving average is $12.04 and its 200-day moving average is $11.33.

MGIC Investment Corporation (NYSE:MTG) last issued its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.06. The firm had revenue of $270.30 million during the quarter, compared to analysts’ expectations of $267.85 million. MGIC Investment Corporation had a return on equity of 16.56% and a net margin of 34.99%. MGIC Investment Corporation’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 earnings per share. On average, analysts expect that MGIC Investment Corporation will post $1.15 EPS for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in MTG. Fox Run Management L.L.C. acquired a new stake in MGIC Investment Corporation during the second quarter valued at approximately $116,000. Appleton Group LLC bought a new position in shares of MGIC Investment Corporation during the second quarter valued at approximately $119,000. Advisors Asset Management Inc. bought a new position in shares of MGIC Investment Corporation during the second quarter valued at approximately $121,000. Sawgrass Asset Management LLC bought a new position in shares of MGIC Investment Corporation during the second quarter valued at approximately $123,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in MGIC Investment Corporation in the 2nd quarter worth approximately $132,000. Institutional investors and hedge funds own 89.43% of the company’s stock.

About MGIC Investment Corporation

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.

Analyst Recommendations for MGIC Investment Corporation (NYSE:MTG)

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