Compass Point reiterated their buy rating on shares of MGIC Investment Corp. (NYSE:MTG) in a research note published on Wednesday morning, Marketbeat Ratings reports. They currently have a $15.25 target price on the insurance provider’s stock, up from their prior target price of $13.00.

Several other research firms have also commented on MTG. Zacks Investment Research lowered MGIC Investment Corp. from a buy rating to a hold rating in a report on Wednesday, October 4th. BTIG Research reaffirmed a buy rating and set a $14.00 target price (up from $12.00) on shares of MGIC Investment Corp. in a report on Saturday, July 22nd. Deutsche Bank AG raised their target price on MGIC Investment Corp. from $13.00 to $13.50 and gave the stock a buy rating in a report on Friday, July 21st. BidaskClub lowered MGIC Investment Corp. from a buy rating to a hold rating in a report on Friday, July 28th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $13.00 target price on shares of MGIC Investment Corp. in a report on Thursday, August 31st. Two 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 an average rating of Buy and an average price target of $12.78.

MGIC Investment Corp. (MTG) traded up 2.14% on Wednesday, hitting $12.91. The stock had a trading volume of 3,332,183 shares. The company’s 50 day moving average is $11.89 and its 200-day moving average is $11.25. The stock has a market cap of $4.78 billion, a P/E ratio of 13.30 and a beta of 2.16. MGIC Investment Corp. has a 12 month low of $7.94 and a 12 month high of $12.97.

MGIC Investment Corp. (NYSE:MTG) last posted its earnings results on Thursday, July 20th. The insurance provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.25 by $0.06. The firm had revenue of $263.31 million for the quarter, compared to analyst estimates of $263.43 million. MGIC Investment Corp. had a return on equity of 16.86% and a net margin of 45.05%. MGIC Investment Corp.’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. Analysts forecast that MGIC Investment Corp. will post $1.14 EPS for the current year.

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A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in MGIC Investment Corp. by 9.9% during the second quarter. Vanguard Group Inc. now owns 34,753,956 shares of the insurance provider’s stock worth $389,244,000 after purchasing an additional 3,120,511 shares in the last quarter. BlackRock Inc. boosted its position in MGIC Investment Corp. by 1.6% during the second quarter. BlackRock Inc. now owns 25,319,890 shares of the insurance provider’s stock worth $283,585,000 after purchasing an additional 397,421 shares in the last quarter. Bank of New York Mellon Corp boosted its position in MGIC Investment Corp. by 29.6% during the second quarter. Bank of New York Mellon Corp now owns 13,197,831 shares of the insurance provider’s stock worth $147,815,000 after purchasing an additional 3,013,777 shares in the last quarter. State Street Corp boosted its position in MGIC Investment Corp. by 0.7% during the second quarter. State Street Corp now owns 12,909,795 shares of the insurance provider’s stock worth $144,591,000 after purchasing an additional 86,987 shares in the last quarter. Finally, LSV Asset Management boosted its position in MGIC Investment Corp. by 4.1% during the second quarter. LSV Asset Management now owns 12,560,022 shares of the insurance provider’s stock worth $140,672,000 after purchasing an additional 490,096 shares in the last quarter. Institutional investors own 89.58% of the company’s stock.

MGIC Investment Corp. 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.

Analyst Recommendations for MGIC Investment Corp. (NYSE:MTG)

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