MGIC Investment Corp. (MTG) PT Raised to $9.00

FBR Capital advised their investors in a research report released on Jul 20, 2016.

MGIC Investment Corporation (NYSE:MTG) initiated the shares trading at $6.99 and showed positive change of +6.74% while the stock’s final trade was registered at $ 6.81. The stock has a market capitalization of $2.35 billion and a PE ratio of 2.78. FBR & Co’s price objective suggests a potential upside of 32.16% from the company’s previous close. Shares were Reiterated by Compass Point on May 10, 2016 to “Neutral” and Lowered the Price Target to $ 8.50 from a previous price target of $9. BTIG Research reissued a “buy” rating on shares of MGIC Investment Corp.in a research note on Tuesday.

The higher rating comes after the mortgage insurance company reported earnings and revenue that beat analysts’ expectations. The company now has a consensus rating of “Buy” and an average target price of $9.77.

The High price target of the company’s Share is at $12 based on the calculations and analysis of 11 brokers. Finally, Victory Capital Management Inc. raised its stake in MGIC Investment Corp.by 9.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 15,217 shares of the company’s stock worth $117,000 after buying an additional 689 shares in the last quarter. The stock’s institutional ownership stands at 99.90%. Virginia Retirement System acquired a new position in MGIC Investment Corp. during the first quarter worth about $294,000. Deutsche Bank AG assumed coverage on MGIC Investment Corp.in a research note on Monday, April 4th. The company’s beta value is at 2.95.

Shares of MGIC Investment Corp.

07/14/2015 – MGIC Investment Corporation had its “market outperform” rating reiterated by analysts at JMP Securities. The company finished it is trading at $27.48.

About 13.80M shares traded hands or 71.22% up from the average.

Now when we talk about Revenue Estimate for the current Fiscal Quarter, Average Revenue Estimate of MGIC Investment Corp.

MGIC Investment Corp. (NYSE:MTG) last announced its quarterly earnings results on Tuesday, July 19th. Diluted net income per share was $0.26 for the quarter ending June 30, 2016, compared to diluted net income per share of $0.28 for the same quarter a year ago. During the same period in the prior year, the company earned $0.28 EPS. Sinks added, “As expected during the quarter MGIC received approval for, and paid, another $16 million dividend to the holding company and I am optimistic that we will continue to receive approval from our regulator to pay dividends of at least this amount in subsequent quarters”.

June 23, 2016 – Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (MTG), is expanding its capacity to provide customers with innovative mortgage technology solutions and increasing the company’s role in the mortgage finance market.

To ensure that MGIC continues to support these efforts and is capable of providing industry leading integrations, the company has promoted Leslie Malicki-Berth to Business Partner Relationship Manager.