Friday, September 25, 2020

For MGIC Investment Corporation [MTG], Keefe Bruyette sees a rise to $12. What next?

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MGIC Investment Corporation [NYSE: MTG] stock went on an upward path that rose over 2.20% on Friday, amounting to a one-week price decrease of less than -0.32%. The company report on September 9, 2020 that MGIC to Participate at the Barclays Global Financial Services Conference.

MGIC Investment Corporation (NYSE: MTG) announced today that the company’s Chief Executive Officer, Timothy Mattke, will present at the Barclays Global Financial Services Conference on Tuesday, September 15, 2020 at 9 a.m. Eastern Time. This conference will be a virtual meeting format only, via live webcast.

The webcast can be accessed at the company’s website, http://mtg.mgic.com/ under Newsroom or https://kvgo.com/barclays/mgic-september-2020. A series of related slides also will be available at the same website prior to the presentation on September 15. A replay of the presentation will be available for 30 days at http://mtg.mgic.com/.

Over the last 12 months, MTG stock dropped by -28.19%. The one-year MGIC Investment Corporation stock forecast points to a potential upside of 25.18. The average equity rating for MTG stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.08 billion, with 338.59 million shares outstanding and 332.92 million shares in the current float. Compared to the average trading volume of 4.79M shares, MTG stock reached a trading volume of 3832828 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on MGIC Investment Corporation [MTG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MTG shares is $12.43 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MTG stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Keefe Bruyette have made an estimate for MGIC Investment Corporation shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on June 09, 2020. The new note on the price target was released on April 01, 2020, representing the official price target for MGIC Investment Corporation stock. Previously, the target price had yet another raise from $14.50 to $16.50, while Compass Point kept a Buy rating on MTG stock.

The Average True Range (ATR) for MGIC Investment Corporation is set at 0.34, with the Price to Sales ratio for MTG stock in the period of the last 12 months amounting to 2.50. The Price to Book ratio for the last quarter was 0.72, with the Price to Cash per share for the same quarter was set at 1.11. Price to Free Cash Flow for MTG in the course of the last twelve months was 4.52.

MTG Stock Performance Analysis:

MGIC Investment Corporation [MTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.32. With this latest performance, MTG shares gained by 4.49% in over the last four-week period, additionally sinking by -4.02% over the last 6 months – not to mention a drop of -28.19% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MTG stock in for the last two-week period is set at 58.55, with the RSI for the last a single of trading hit 58.27, and the three-weeks RSI is set at 57.70 for MGIC Investment Corporation [MTG]. The present Moving Average for the last 50 days of trading for this stock 8.40, while it was recorded at 9.18 for the last single week of trading, and 9.95 for the last 200 days.

Insight into MGIC Investment Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and MGIC Investment Corporation [MTG] shares currently have an operating margin of +74.19. MGIC Investment Corporation’s Net Margin is presently recorded at +55.50.

Return on Total Capital for MTG is now 18.85, given the latest momentum, and Return on Invested Capital for the company is 14.10. Return on Equity for this stock inclined to 17.08, with Return on Assets sitting at 11.25. When it comes to the capital structure of this company, MGIC Investment Corporation [MTG] has a Total Debt to Total Equity ratio set at 19.32. Additionally, MTG Total Debt to Total Capital is recorded at 16.19, with Total Debt to Total Assets ending up at 13.24. Long-Term Debt to Equity for the company is recorded at 19.32, with the Long-Term Debt to Total Capital now at 16.19.

Reflecting on the efficiency of the workforce at the company, MGIC Investment Corporation [MTG] managed to generate an average of $930,612 per employee.

MTG Stock EPS

With the latest financial reports released by the company, MGIC Investment Corporation posted 0.48/share EPS, while the average EPS was predicted by analysts to be reported at 0.42/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MTG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MGIC Investment Corporation go to -1.59%.

MGIC Investment Corporation [MTG] Insider Position Details

There are presently around $2,947 million, or 95.00% of MTG stock, in the hands of institutional investors. The top three institutional holders of MTG stocks are: VANGUARD GROUP INC with ownership of 36,271,336, which is approximately -1.454% of the company’s market cap and around 0.10% of the total institutional ownership; FMR LLC, holding 28,702,483 shares of the stock with an approximate value of $266.93 million in MTG stocks shares; and GOLDMAN SACHS GROUP INC, currently with $201.48 million in MTG stock with ownership of nearly 90.975% of the company’s market capitalization.

Positions in MGIC Investment Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 145 institutional holders increased their position in MGIC Investment Corporation [NYSE:MTG] by around 62,700,607 shares. Additionally, 192 investors decreased positions by around 62,765,634 shares, while 40 investors held positions by with 191,380,090 shares. The mentioned changes placed institutional holdings at 316,846,331 shares, according to the latest SEC report filing. MTG stock had 43 new institutional investments in for a total of 14,015,726 shares, while 59 institutional investors sold positions of 4,397,694 shares during the same period.

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