MGIC Expense Co. (NYSE:MTG) has attained a consensus suggestion of “Buy” from the nine brokerages that are covering the organization, MarketBeat Ratings stories. Just one research analyst has rated the inventory with a sell advice, one has supplied a hold suggestion and 5 have assigned a purchase suggestion to the firm. The regular twelve-thirty day period goal rate among the analysts that have updated their coverage on the inventory in the last yr is $15.63.
MTG has been the subject of a number of current analyst reports. Zacks Financial investment Investigation downgraded shares of MGIC Financial investment from a “maintain” score to a “solid promote” ranking and set a $12.00 price tag target on the stock. in a report on Wednesday, July 14th. Royal Lender of Canada greater their price tag focus on on shares of MGIC Financial investment from $15.00 to $16.00 and gave the stock a “sector execute” ranking in a report on Friday, August 6th. B. Riley enhanced their price goal on shares of MGIC Investment decision from $17.00 to $18.00 and gave the inventory a “invest in” ranking in a report on Thursday, August 19th. BTIG Exploration greater their price tag aim on shares of MGIC Financial investment from $16.00 to $17.00 and gave the corporation a “buy” ranking in a report on Friday, Could 7th. Lastly, Barclays increased their price tag goal on shares of MGIC Financial investment from $18.00 to $19.00 and gave the business an “obese” score in a report on Friday, August 6th.
A selection of institutional traders have recently added to or lessened their stakes in MTG. Marshall Wace LLP acquired a new stake in shares of MGIC Expense during the 2nd quarter valued at about $19,040,000. Morgan Stanley greater its position in shares of MGIC Expense by 40.5% all through the 2nd quarter. Morgan Stanley now owns 5,051,158 shares of the insurance provider’s stock valued at $68,696,000 following buying an supplemental 1,456,019 shares in the course of the previous quarter. Thrivent Money for Lutherans elevated its situation in shares of MGIC Investment by 54.9% in the course of the next quarter. Thrivent Financial for Lutherans now owns 1,175,555 shares of the insurance policy provider’s stock valued at $15,987,000 after acquiring an added 416,493 shares throughout the past quarter. Colony Team LLC acquired a new stake in shares of MGIC Investment in the course of the next quarter valued at about $150,000. Finally, Wells Fargo & Corporation MN amplified its place in shares of MGIC Expense by 5.7% all through the next quarter. Wells Fargo & Corporation MN now owns 552,213 shares of the insurance coverage provider’s stock valued at $7,510,000 right after obtaining an more 29,905 shares for the duration of the past quarter. Hedge cash and other institutional investors have 79.21% of the company’s stock.
MTG inventory opened at $15.45 on Monday. The business has a fifty day uncomplicated shifting regular of $14.10. The inventory has a sector cap of $5.24 billion, a P/E ratio of 9.14, a P/E/G ratio of 1.82 and a beta of 1.73. The business has a financial debt-to-fairness ratio of .25, a current ratio of .34 and a swift ratio of .34. MGIC Financial investment has a 12 thirty day period small of $8.29 and a 12 month substantial of $15.68.
MGIC Financial investment (NYSE:MTG) past unveiled its quarterly earnings details on Wednesday, August 4th. The insurance plan supplier claimed $.44 EPS for the quarter, beating the consensus estimate of $.42 by $.02. The enterprise had revenue of $297.80 million for the quarter, as opposed to the consensus estimate of $291.76 million. MGIC Expense experienced a web margin of 49.02% and a return on equity of 12.70%. The business’s income for the quarter was up 1.4% on a 12 months-more than-calendar year foundation. During the identical interval in the prior 12 months, the business acquired $.03 EPS. As a team, equities analysts forecast that MGIC Expense will publish 1.7 earnings per share for the existing 12 months.
The company also not too long ago disclosed a quarterly dividend, which was paid out on Thursday, August 26th. Investors of file on Thursday, August 12th had been given a dividend of $.08 for each share. This is a improve from MGIC Investment’s preceding quarterly dividend of $.06. This represents a $.32 annualized dividend and a yield of 2.07%. The ex-dividend date was Wednesday, August 11th. MGIC Investment’s dividend payout ratio (DPR) is presently 24.24%.
About MGIC Investment decision
MGIC Expenditure Company, by its subsidiaries, supplies private house loan insurance policies, other home finance loan credit rating hazard administration solutions, and ancillary companies to loan providers and governing administration sponsored entities in the United States, Puerto Rico, and Guam. The business offers most important home loan insurance policies that offers mortgage default safety on individual loans, as nicely as addresses unpaid bank loan principal, delinquent desire, and several bills associated with the default and subsequent foreclosure.
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