MGIC Investment Corporation (NYSE:MTG)‘s stock had its “buy” rating reissued by Compass Point in a research note issued on Wednesday.

Several other research firms have also recently weighed in on MTG. Zacks Investment Research raised shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Tuesday, August 22nd. BidaskClub raised shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Deutsche Bank AG boosted their price objective on shares of MGIC Investment Corporation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, July 21st. Keefe, Bruyette & Woods reissued a “buy” rating and set a $13.00 price objective on shares of MGIC Investment Corporation in a report on Thursday, August 31st. Finally, BTIG Research reissued a “buy” rating and set a $14.00 price objective (up from $12.00) on shares of MGIC Investment Corporation in a report on Saturday, July 22nd. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $12.25.

MGIC Investment Corporation (MTG) traded up 0.923% during midday trading on Wednesday, reaching $12.575. 1,483,903 shares of the company’s stock traded hands. The firm’s 50-day moving average is $11.81 and its 200 day moving average is $11.21. MGIC Investment Corporation has a 52-week low of $7.84 and a 52-week high of $12.69. The firm has a market cap of $4.66 billion, a PE ratio of 12.832 and a beta of 2.16.

MGIC Investment Corporation (NYSE:MTG) last released its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.06. MGIC Investment Corporation had a net margin of 34.99% and a return on equity of 16.56%. The firm had revenue of $263.31 million during the quarter, compared to analysts’ expectations of $263.43 million. During the same period in the previous year, the company earned $0.26 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. Equities research analysts expect that MGIC Investment Corporation will post $1.14 earnings per share for the current fiscal year.

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Hedge funds have recently made changes to their positions in the business. Fox Run Management L.L.C. purchased a new stake in MGIC Investment Corporation during the second quarter valued at approximately $116,000. Appleton Group LLC purchased a new stake in MGIC Investment Corporation during the second quarter valued at approximately $119,000. Advisors Asset Management Inc. purchased a new stake in MGIC Investment Corporation during the second quarter valued at approximately $121,000. Sawgrass Asset Management LLC purchased a new stake in MGIC Investment Corporation during the second quarter valued at approximately $123,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in MGIC Investment Corporation during the second quarter valued at approximately $132,000. 89.58% of the stock is owned by institutional investors and hedge funds.

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)

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