MGIC Investment Corporation (NYSE:MTG) had its price target upped by Deutsche Bank AG from $13.00 to $13.50 in a research report report published on Friday morning. They currently have a buy rating on the insurance provider’s stock.

A number of other brokerages also recently issued reports on MTG. ValuEngine raised MGIC Investment Corporation from a buy rating to a strong-buy rating in a report on Friday, June 2nd. Compass Point raised MGIC Investment Corporation from a neutral rating to a buy rating in a report on Wednesday, April 12th. Zacks Investment Research downgraded MGIC Investment Corporation from a buy rating to a hold rating in a report on Thursday, May 11th. MKM Partners reaffirmed a buy rating and set a $13.00 price target (up from $10.00) on shares of MGIC Investment Corporation in a report on Tuesday, April 25th. Finally, BTIG Research reaffirmed a buy rating and set a $12.00 price target on shares of MGIC Investment Corporation in a report on Wednesday, April 19th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $11.60.

MGIC Investment Corporation (NYSE MTG) traded up 1.28% during midday trading on Friday, hitting $11.91. The stock had a trading volume of 3,649,071 shares. The firm has a 50 day moving average of $11.22 and a 200 day moving average of $10.74. MGIC Investment Corporation has a 52 week low of $6.78 and a 52 week high of $12.25. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 12.88 and a beta of 2.07.

MGIC Investment Corporation (NYSE:MTG) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. The firm had revenue of $263.31 million for the quarter, compared to the consensus estimate of $263.43 million. MGIC Investment Corporation had a return on equity of 17.20% and a net margin of 34.99%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. Equities research analysts predict that MGIC Investment Corporation will post $1.09 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This news story was posted by Daily Political and is the sole property of of Daily Political. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.dailypolitical.com/2017/07/22/mgic-investment-corporation-mtg-price-target-raised-to-13-50.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of MTG. Guggenheim Capital LLC increased its position in MGIC Investment Corporation by 336.0% in the fourth quarter. Guggenheim Capital LLC now owns 256,345 shares of the insurance provider’s stock worth $2,612,000 after buying an additional 197,547 shares in the last quarter. Quadrature Capital Ltd increased its position in MGIC Investment Corporation by 2.5% in the fourth quarter. Quadrature Capital Ltd now owns 86,817 shares of the insurance provider’s stock worth $885,000 after buying an additional 2,155 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new position in MGIC Investment Corporation during the first quarter worth $2,200,000. Airain ltd purchased a new position in MGIC Investment Corporation during the first quarter worth $238,000. Finally, Norges Bank purchased a new position in MGIC Investment Corporation during the fourth quarter worth $34,177,000. 86.07% of the stock is currently owned by institutional investors.

About MGIC Investment Corporation

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 Corporation (NYSE:MTG)

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