B. Riley reaffirmed their buy rating on shares of MGIC Investment (NYSE:MTG) in a research report report published on Thursday. B. Riley currently has a $19.00 price objective on the insurance provider’s stock.
MTG has been the subject of a number of other research reports. BTIG Research increased their target price on shares of MGIC Investment from $16.00 to $18.00 and gave the stock a buy rating in a research report on Wednesday, December 20th. Zacks Investment Research cut shares of MGIC Investment from a buy rating to a hold rating in a research report on Wednesday, October 4th. Deutsche Bank upgraded shares of MGIC Investment from a hold rating to a buy rating and raised their price objective for the company from $15.00 to $18.00 in a research report on Monday, January 8th. ValuEngine cut shares of MGIC Investment from a strong-buy rating to a buy rating in a research report on Wednesday, January 10th. Finally, Barclays raised their price objective on shares of MGIC Investment from $13.00 to $15.00 and gave the company an overweight rating in a research report on Thursday, October 19th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $15.63.
Shares of MGIC Investment (NYSE:MTG) traded up $0.01 during trading on Thursday, hitting $15.68. 2,032,027 shares of the company were exchanged, compared to its average volume of 2,767,331. The firm has a market cap of $5,810.00, a PE ratio of 13.75, a P/E/G ratio of 1.24 and a beta of 2.29. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. MGIC Investment has a 1-year low of $9.68 and a 1-year high of $16.21.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of MGIC Investment by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 13,311,911 shares of the insurance provider’s stock valued at $166,798,000 after purchasing an additional 114,080 shares during the last quarter. First Midwest Bank Trust Division boosted its stake in shares of MGIC Investment by 60.7% in the 3rd quarter. First Midwest Bank Trust Division now owns 87,474 shares of the insurance provider’s stock valued at $1,096,000 after purchasing an additional 33,026 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of MGIC Investment by 92.3% in the 2nd quarter. Royal Bank of Canada now owns 40,756 shares of the insurance provider’s stock valued at $457,000 after purchasing an additional 19,567 shares during the last quarter. Investec Asset Management LTD bought a new position in shares of MGIC Investment in the 3rd quarter valued at about $12,706,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of MGIC Investment by 55.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,399,762 shares of the insurance provider’s stock valued at $17,567,000 after purchasing an additional 499,890 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors.
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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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