Economy

MGIC Investment Corporation (MTG) Releases Earnings Results, Beats Expectations By $0.06 EPS

MTG has certainly shown an interesting set of movements, but what is the outlook from analysts. The other 11, though not evenly; between analysts who think you should buy MGIC Investment Corporation versus those who think you should sell it. BTIG Research reiterated a "buy" rating and set a $14.00 price target on shares of MGIC Investment Corporation in a research report on Saturday, October 14th. Keefe, Bruyette & Woods raised their price target on shares of MGIC Investment Corp. from $9.00 to $9.50 and gave the company an "outperform" rating in a research report on Tuesday, October 4th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 14.72 and a beta of 2.16.

MGIC Investment Corporation (MTG) closed up +0.28 points or 2% at $14.29 with 3.99 mln shares exchanging hands. The company has its outstanding shares of 366.92M. MGIC Investment Corporation (NYSE:MTG) has been trading in a bullish manner, based on the relative positions of the stock's 20 and 200 day moving averages. In looking the SMA 50 we see that the stock has seen a 1.69% while it has a distance of 2.66% from the 200 days simple moving average.

MGIC Investment Corp. (NYSE:MTG) has risen 60.12% since October 28, 2016 and is uptrending. Sell-side analyst recommendations point to a short term price target of $15.13 on the company shares. MGIC Investment Corporation had a net margin of 41.08% and a return on equity of 17.01%. The company had revenue of $270.30 million for the quarter, compared to analyst estimates of $267.85 million. During the same period in the previous year, the company earned $0.29 EPS. The business's quarterly revenue was down 1.3% compared to the same quarter a year ago. However, the institutional investors are observed to own 95.60% of the total shares. (NYSE:MTG) traded down 1.11% during trading on Wednesday, hitting $7.99. If you are accessing this news story on another website, it was illegally copied and republished in violation of USA and worldwide trademark and copyright legislation. MGIC Investment Corporation presently has a consensus rating of "Buy" and an average price target of $14.08. It worsened, as 34 investors sold MTG shares while 85 reduced holdings. Emerald Acquisition Ltd. purchased a new stake in MGIC Investment Corp. during the second quarter valued at approximately $6,606,000.

Over the past five trading sessions shares of MGIC Investment Corporation (MTG) are 3.78%; 13.86% for the month; 22.45% for the last quarter; 37.54% for the past six-months; and 71.75% for the last 12 months. BlackRock Inc. increased its position in shares of MGIC Investment Corporation by 1.6% during the second quarter. The quarterly performance for the stock is 4.96%, while the half-yearly performance is -1.05%.

Airain ltd purchased a new stake in shares of MGIC Investment Corp. Capital Returns Management LLC purchased a new stake in MGIC Investment Corp. during the first quarter valued at approximately $21,021,000. Nationwide Fund Advisors now owns 941,246 shares of the insurance provider's stock valued at $11,794,000 after buying an additional 318,331 shares during the last quarter. Finally, Heartland Advisors Inc. raised its stake in MGIC Investment Corp.by 84.1% in 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. When volumes suddenly increase above normal levels, it can be a sign that investors feel very strongly in one way or the other about the future direction of a stock, or may even have access to inside information. Glenmede Trust Communication Na holds 0% in MGIC Investment Corp.



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