UBS Group Issues Pessimistic Forecast for MGIC Investment (NYSE:MTG) Stock Price

MGIC Investment (NYSE:MTG) had its target price reduced by research analysts at UBS Group from $29.50 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. UBS Group’s target price would indicate a potential upside of 7.17% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods raised their target price on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a report on Thursday, December 18th. Barclays reduced their price objective on shares of MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 4th. Finally, Weiss Ratings cut MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.00.

MGIC Investment Stock Performance

Shares of NYSE:MTG traded up $0.25 during midday trading on Thursday, reaching $26.13. The company’s stock had a trading volume of 2,341,623 shares, compared to its average volume of 2,362,410. MGIC Investment has a twelve month low of $21.94 and a twelve month high of $29.97. The firm has a market capitalization of $5.62 billion, a PE ratio of 8.32, a P/E/G ratio of 2.10 and a beta of 0.83. The stock has a fifty day moving average of $26.98 and a 200 day moving average of $27.73. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last announced its earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. On average, equities analysts expect that MGIC Investment will post 2.71 EPS for the current fiscal year.

Insider Activity

In other news, EVP Paula C. Maggio sold 20,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $27.51, for a total value of $550,200.00. Following the completion of the sale, the executive vice president owned 114,689 shares of the company’s stock, valued at $3,155,094.39. This trade represents a 14.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Salvatore A. Miosi sold 30,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $27.27, for a total transaction of $818,100.00. Following the transaction, the chief operating officer owned 454,245 shares in the company, valued at approximately $12,387,261.15. This represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 189,203 shares of company stock valued at $5,058,572 over the last three months. Insiders own 1.05% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Compound Planning Inc. boosted its position in MGIC Investment by 5.3% in the third quarter. Compound Planning Inc. now owns 7,788 shares of the insurance provider’s stock valued at $221,000 after buying an additional 389 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of MGIC Investment by 61.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock valued at $30,000 after buying an additional 395 shares during the period. Waddell & Associates LLC increased its stake in MGIC Investment by 5.3% during the 3rd quarter. Waddell & Associates LLC now owns 8,090 shares of the insurance provider’s stock worth $230,000 after purchasing an additional 410 shares in the last quarter. Clearstead Advisors LLC boosted its position in shares of MGIC Investment by 24.7% during the third quarter. Clearstead Advisors LLC now owns 2,209 shares of the insurance provider’s stock worth $63,000 after buying an additional 438 shares during the period. Finally, NDVR Inc. grew its position in MGIC Investment by 3.6% in the second quarter. NDVR Inc. now owns 12,708 shares of the insurance provider’s stock valued at $354,000 after purchasing an additional 445 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Company Profile

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.