MGIC Investment (NYSE:MTG) – Equities research analysts at B. Riley issued their Q1 2018 EPS estimates for shares of MGIC Investment in a report issued on Monday, April 16th. B. Riley analyst R. Binner forecasts that the insurance provider will post earnings per share of $0.31 for the quarter. B. Riley currently has a “Buy” rating and a $18.00 target price on the stock. B. Riley also issued estimates for MGIC Investment’s FY2018 earnings at $1.30 EPS.
MTG has been the subject of a number of other reports. Macquarie assumed coverage on shares of MGIC Investment in a report on Wednesday, March 14th. They set an “outperform” rating and a $17.00 price target for the company. Barclays decreased their price target on shares of MGIC Investment from $18.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, April 11th. Wells Fargo restated a “buy” rating on shares of MGIC Investment in a report on Wednesday, March 14th. ValuEngine cut shares of MGIC Investment from a “strong-buy” rating to a “buy” rating in a report on Monday, April 9th. Finally, BTIG Research upped their price target on shares of MGIC Investment from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $16.33.
Shares of NYSE:MTG opened at $10.84 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.18 and a quick ratio of 0.18. MGIC Investment has a 1 year low of $10.07 and a 1 year high of $16.21. The firm has a market capitalization of $3,994.19, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 1.09 and a beta of 1.95.
MGIC Investment (NYSE:MTG) last issued its quarterly earnings data 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 firm had revenue of $271.50 million during the quarter, compared to analysts’ expectations of $273.66 million. MGIC Investment had a net margin of 33.37% and a return on equity of 17.36%. MGIC Investment’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB bought a new stake in shares of MGIC Investment in the fourth quarter valued at about $451,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in shares of MGIC Investment by 57.7% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 220,816 shares of the insurance provider’s stock valued at $3,116,000 after buying an additional 80,800 shares during the period. MetLife Investment Advisors LLC bought a new stake in shares of MGIC Investment in the fourth quarter valued at about $2,339,000. Jump Trading LLC bought a new stake in shares of MGIC Investment in the fourth quarter valued at about $223,000. Finally, Jane Street Group LLC lifted its stake in shares of MGIC Investment by 110.8% in the fourth quarter. Jane Street Group LLC now owns 55,306 shares of the insurance provider’s stock valued at $780,000 after buying an additional 29,074 shares during the period. Institutional investors and hedge funds own 91.95% of the company’s stock.
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MGIC Investment Company Profile
MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance 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.
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