Deutsche Bank upgraded shares of MGIC Investment (NYSE:MTG) from a hold rating to a buy rating in a research note released on Monday, Marketbeat.com reports. The brokerage currently has $18.00 price objective on the insurance provider’s stock, up from their prior price objective of $15.00.

A number of other equities research analysts have also recently issued reports on MTG. Wells Fargo & Co reiterated an outperform rating and issued a $17.00 price objective on shares of MGIC Investment in a report on Tuesday, November 28th. Compass Point reiterated a buy rating and issued a $15.25 price objective (up from $13.00) on shares of MGIC Investment in a report on Wednesday, October 11th. MKM Partners upped their price objective on shares of MGIC Investment to $16.00 and gave the stock a buy rating in a report on Thursday, October 19th. Royal Bank of Canada started coverage on shares of MGIC Investment in a report on Wednesday, December 20th. They issued an outperform rating and a $18.00 price objective for the company. Finally, Bank of America upped their price objective on shares of MGIC Investment from $13.00 to $16.00 and gave the stock a buy rating in a report on Friday, October 20th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $15.35.

MGIC Investment (NYSE MTG) opened at $14.74 on Monday. MGIC Investment has a one year low of $9.68 and a one year high of $15.64. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. The firm has a market cap of $5,480.00, a price-to-earnings ratio of 12.93, a PEG ratio of 1.29 and a beta of 2.29.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.06. MGIC Investment had a net margin of 41.08% and a return on equity of 16.41%. The business had revenue of $270.30 million for the quarter, compared to the consensus estimate of $267.85 million. During the same period in the prior year, the business posted $0.14 earnings per share. MGIC Investment’s revenue for the quarter was down 1.3% compared to the same quarter last year. research analysts predict that MGIC Investment will post 1.21 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of MTG. Wealthcare Advisory Partners LLC bought a new stake in MGIC Investment during the third quarter valued at about $107,000. Sawgrass Asset Management LLC bought a new stake in MGIC Investment during the second quarter valued at about $123,000. Arrowstreet Capital Limited Partnership bought a new stake in MGIC Investment during the second quarter valued at about $132,000. Zeke Capital Advisors LLC bought a new stake in MGIC Investment during the third quarter valued at about $150,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in MGIC Investment by 11.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,009 shares of the insurance provider’s stock valued at $146,000 after acquiring an additional 1,312 shares during the period. Hedge funds and other institutional investors own 91.11% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “MGIC Investment (MTG) Lifted to “Buy” at Deutsche Bank” was posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.watchlistnews.com/mgic-investment-mtg-lifted-to-buy-at-deutsche-bank/1802479.html.

About MGIC Investment

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 (NYSE:MTG)

Receive News & Ratings for MGIC Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment and related companies with MarketBeat.com's FREE daily email newsletter.