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.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.16. The company had revenue of $271.50 million for the quarter, compared to analyst estimates of $273.66 million. MGIC Investment had a net margin of 41.08% and a return on equity of 16.41%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. equities research analysts forecast that MGIC Investment will post 1.21 EPS for the current fiscal year.

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.

Analyst Recommendations for MGIC Investment (NYSE:MTG)

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