MGIC Investment Corporation (NYSE:MTG)’s share price fell 4.5% during mid-day trading on Friday . The stock traded as low as $13.41 and last traded at $13.45. 4,303,473 shares were traded during mid-day trading, an increase of 43% from the average session volume of 3,000,958 shares. The stock had previously closed at $14.08.

Several research firms recently issued reports on MTG. BidaskClub downgraded MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BTIG Research reissued a “buy” rating and issued a $14.00 target price (up from $12.00) on shares of MGIC Investment Corporation in a research report on Saturday, July 22nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $13.00 target price on shares of MGIC Investment Corporation in a research report on Thursday, August 31st. Zacks Investment Research downgraded MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, Deutsche Bank AG downgraded MGIC Investment Corporation from a “buy” rating to a “hold” rating and set a $13.50 target price on the stock. in a research report on Friday. Two 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 stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.08.

The stock has a market cap of $4,984.06, a PE ratio of 11.02, a price-to-earnings-growth ratio of 2.23 and a beta of 2.28. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.28.

MGIC Investment Corporation (NYSE:MTG) last released its earnings results on Wednesday, October 18th. The insurance provider reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.06. The company had revenue of $270.30 million during the quarter, compared to analysts’ expectations of $267.85 million. MGIC Investment Corporation had a return on equity of 17.01% and a net margin of 41.08%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 EPS. equities research analysts forecast that MGIC Investment Corporation will post 1.21 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTG. UBS Asset Management Americas Inc. lifted its stake in shares of MGIC Investment Corporation by 30.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 222,565 shares of the insurance provider’s stock valued at $2,255,000 after purchasing an additional 51,709 shares during the period. Teachers Advisors LLC lifted its stake in shares of MGIC Investment Corporation by 4.4% in the 1st quarter. Teachers Advisors LLC now owns 2,769,502 shares of the insurance provider’s stock valued at $28,055,000 after purchasing an additional 116,384 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of MGIC Investment Corporation by 149.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 22,780 shares of the insurance provider’s stock valued at $230,000 after purchasing an additional 13,640 shares during the period. Legal & General Group Plc lifted its stake in shares of MGIC Investment Corporation by 17.0% in the 1st quarter. Legal & General Group Plc now owns 131,182 shares of the insurance provider’s stock valued at $1,324,000 after purchasing an additional 19,066 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of MGIC Investment Corporation by 7.7% in the 1st quarter. Geode Capital Management LLC now owns 2,579,365 shares of the insurance provider’s stock valued at $26,128,000 after purchasing an additional 184,619 shares during the period. Institutional investors own 90.98% of the company’s stock.

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MGIC Investment Corporation 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.

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