MGIC Investment’s (MTG) “Buy” Rating Reaffirmed at B. Riley
MGIC Investment (NYSE:MTG)‘s stock had its “buy” rating reiterated by equities research analysts at B. Riley in a report released on Thursday. They currently have a $19.00 price objective on the insurance provider’s stock. B. Riley’s price target points to a potential upside of 21.17% from the company’s previous close.
Other analysts have also issued reports about the stock. Wells Fargo & Co reiterated a “buy” rating on shares of MGIC Investment in a research note on Friday, December 8th. BTIG Research boosted their price target on shares of MGIC Investment from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Monday, October 23rd. Bank of America boosted their price target on shares of MGIC Investment from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Finally, MKM Partners boosted their price target on shares of MGIC Investment to $16.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $15.63.
MGIC Investment (NYSE:MTG) opened at $15.68 on Thursday. MGIC Investment has a 1 year low of $9.68 and a 1 year high of $16.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market cap of $5,810.00, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.24 and a beta of 2.29.
Hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its stake in shares of MGIC Investment by 125.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,190 shares of the insurance provider’s stock worth $101,000 after buying an additional 4,000 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in shares of MGIC Investment during the third quarter worth approximately $107,000. Sawgrass Asset Management LLC purchased a new stake in shares of MGIC Investment during the second quarter worth approximately $123,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of MGIC Investment during the second quarter worth approximately $132,000. Finally, Zeke Capital Advisors LLC purchased a new stake in shares of MGIC Investment during the third quarter worth approximately $150,000. Hedge funds and other institutional investors own 91.32% 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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