Economy

MGIC Investment Corporation (NYSE:MTG) closed with a change of -3.97%

MGIC Investment Corporation (NYSE:MTG)'s earnings per share has been growing at a 18.7 percent rate over the past 5 year when average revenue increase was noted as -6.7 percent. Quadrature Capital Ltd now owns 86,817 shares of the insurance provider's stock valued at $885,000 after buying an additional 2,155 shares during the period.

More recent MGIC Investment Corp.

A number of equities research analysts recently commented on MTG shares. MARSHALL WACE ASIA Ltd bought a new stake in shares of MGIC Investment Corporation during the first quarter valued at $52,793,000. The institutional investor owned 21,500 shares of the insurance provider's stock at the end of the second quarter. Gotham Asset Management LLC raised its stake in MGIC Investment Corporation by 0.9% in the first quarter. BlackRock Inc. now owns 24,922,469 shares of the insurance provider's stock valued at $252,464,000 after buying an additional 24,827,763 shares during the last quarter. ValuEngine upgraded shares of MGIC Investment Corporation from a buy rating to a strong-buy rating in a report on Friday, June 2nd.

Heartland Advisors Inc, which manages about $6.06 billion and $1.81B US Long portfolio, decreased its stake in Invacare Corp (NYSE:IVC) by 238,614 shares to 2.12 million shares, valued at $27.63 million in 2016Q4, according to the filing. Moreover, Tower Rech Ltd Com (Trc) has 0.01% invested in MGIC Investment Corp. Verition Fund Limited Liability Corporation invested 0.02% in Apollo Investment Corp. Alliancebernstein L.P. claims 1,052,116 shares with a value of $11,784,000.

MGIC Investment Corporation (MTG) traded down 3.97% during mid-day trading on Friday, reaching $11.38. (NYSE:BAX) now have an ABR of 2.38.which is marked on a basic 1 to 5 scale, where 1 stands for a Strong Buy and 5 represents Strong Sell. The firm has a market cap of $4.22 billion, a PE ratio of 11.72 and a beta of 2.08. The stock touched 52-week High of $12.25 on 07/20/17 and 52-week Low of $7.25 on 08/12/16. The firm's 50-day moving average is $11.52 and its 200-day moving average is $10.88.

MGIC Investment Corporation (NYSE:MTG) plunged -3.97% with the closing price of $11.38. The insurance provider reported $0.31 EPS for the quarter, beating the Zacks' consensus estimate of $0.25 by $0.06.

MGIC Investment Corporation is a holding company. The company had revenue of $263.31 million for the quarter, compared to analyst estimates of $263.43 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The business's revenue for the quarter was down.1% compared to the same quarter previous year. As of the latest earnings report the EPS was $0.97 and is expected to be $1.13 for the current year with 370,561,000 shares outstanding.

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Analyst notified mean rating at 1.60 after consensus analysis.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MTG. Comerica Bank acquired a new position in MGIC Investment Corporation during the fourth quarter valued at approximately $128,000. Finally, MKM Partners restated a buy rating and issued a $13.00 price objective (up previously from $10.00) on shares of MGIC Investment Corporation in a report on Tuesday, April 25th. Deutsche Bank AG increased their target price on MGIC Investment Corporation from $13.00 to $13.50 and gave the stock a buy rating in a report on Friday, July 21st. (NYSE:MTG) has "Neutral" rating given on Wednesday, April 20 by Compass Point.

Equity analyst Deutsche Bank both upgraded the stock and raised the price target on December 12 changing the price target from $8.00 to $12.00 and moving the rating from "Hold" to "Buy". (NYSE:MTG) earned "Outperform" rating by Keefe Bruyette & Woods on Monday, October 12.



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