MGIC Investment Corp. (NYSE:MTG) has been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.81.

A number of research analysts have weighed in on MTG shares. ValuEngine lowered shares of MGIC Investment from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Zacks Investment Research lowered shares of MGIC Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th.

MGIC Investment stock traded down $0.35 on Tuesday, reaching $13.02. 6,379,538 shares of the stock were exchanged, compared to its average volume of 2,755,567. The firm has a market cap of $4.72 billion, a PE ratio of 7.31, a PEG ratio of 1.62 and a beta of 1.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.37 and a current ratio of 0.37. MGIC Investment has a twelve month low of $9.41 and a twelve month high of $14.97. The company’s fifty day moving average is $13.88.

MGIC Investment (NYSE:MTG) last released its earnings results on Tuesday, April 23rd. The insurance provider reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.04. The firm had revenue of $291.65 million during the quarter, compared to analyst estimates of $286.01 million. MGIC Investment had a net margin of 59.01% and a return on equity of 19.06%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. Equities analysts anticipate that MGIC Investment will post 1.66 EPS for the current fiscal year.

MGIC Investment declared that its Board of Directors has approved a share buyback plan on Wednesday, March 20th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the insurance provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of MGIC Investment by 2.4% during the fourth quarter. BlackRock Inc. now owns 26,172,069 shares of the insurance provider’s stock valued at $273,759,000 after buying an additional 602,849 shares during the last quarter. AJO LP raised its position in shares of MGIC Investment by 217.3% during the first quarter. AJO LP now owns 8,653,793 shares of the insurance provider’s stock valued at $114,144,000 after buying an additional 5,926,435 shares during the last quarter. Bayview Asset Management LLC raised its position in shares of MGIC Investment by 4.0% during the first quarter. Bayview Asset Management LLC now owns 7,813,534 shares of the insurance provider’s stock valued at $103,061,000 after buying an additional 300,000 shares during the last quarter. APG Asset Management N.V. raised its position in shares of MGIC Investment by 2.4% during the fourth quarter. APG Asset Management N.V. now owns 7,646,600 shares of the insurance provider’s stock valued at $69,968,000 after buying an additional 177,700 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of MGIC Investment by 3.7% during the fourth quarter. Macquarie Group Ltd. now owns 6,961,011 shares of the insurance provider’s stock valued at $72,813,000 after buying an additional 247,232 shares during the last quarter. 92.00% of the stock is owned by institutional investors and hedge funds.

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 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.

Featured Article: Should You Consider an Index Fund?

Analyst Recommendations for MGIC Investment (NYSE:MTG)

Receive News & Ratings for MGIC Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment and related companies with MarketBeat.com's FREE daily email newsletter.