why MGIC Investment Corporation [MTG] is a Good Choice for Investors After New Price Target of $14.61

MGIC Investment Corporation [NYSE: MTG] slipped around -0.03 points on Monday, while shares priced at $12.05 at the close of the session, down -0.25%. The company report on December 8, 2020 that MGIC Investment Corporation Releases Monthly Operating Statistics.

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MGIC Investment Corporation (NYSE: MTG) issued an Operational Summary of the primary mortgage insurance of its insurance subsidiaries for the month of November 2020. The summary is also available on the company’s investor website under Newsroom, Press Releases.

The information concerning new delinquency notices and cures is compiled from reports received from loan servicers. The level of new notice and cure activity reported in a particular month can be influenced by, among other things, the date on which a servicer generates its report, the accuracy of the data provided by servicers, the number of business days in a month, transfers of servicing between loan servicers, and whether all servicers have provided the reports in a given month. Notices of delinquency are typically reported to us when loans are two payments past due (for example, for November we report as a new delinquency any delinquent loan that missed its October 1st (or earlier) payment that was not previously reported to us.) We expect the number of delinquencies will continue to be impacted by the COVID-19 pandemic. The magnitude of the impact, which may be significant, will be influenced by various factors, including the length and severity of the pandemic in the United States, the length of time that measures intended to reduce the transmission of COVID-19 remain in place, the resulting level of unemployment, and the impact of various government initiatives to mitigate the economic harm caused by COVID-19 and efforts to reduce its transmission.

MGIC Investment Corporation stock is now -14.96% down from its year-to-date (YTD) trading value. MTG Stock saw the intraday high of $12.33 and lowest of $11.98 per share. The company’s 52-week high price is 15.24, which means current price is +177.65% above from all time high which was touched on 02/04/20.

Compared to the average trading volume of 5.65M shares, MTG reached a trading volume of 3455562 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $14.61 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 1.80. 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 Outperform, with their previous recommendation back on October 07, 2020. The new note on the price target was released on June 09, 2020, representing the official price target for MGIC Investment Corporation stock. On October 22, 2018, analysts increased their price target for MTG shares from 14.50 to 16.50.

The Average True Range (ATR) for MGIC Investment Corporation is set at 0.44, with the Price to Sales ratio for MTG stock in the period of the last 12 months amounting to 3.48. The Price to Book ratio for the last quarter was 0.90, with the Price to Cash per share for the same quarter was set at 1.09. Price to Free Cash Flow for MTG in the course of the last twelve months was 7.34.

How has MTG stock performed recently?

MGIC Investment Corporation [MTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.47. With this latest performance, MTG shares gained by 9.45% in over the last four-week period, additionally plugging by 34.04% over the last 6 months – not to mention a drop of -16.09% 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 53.79, with the RSI for the last a single of trading hit 50.49, and the three-weeks RSI is set at 57.37 for MGIC Investment Corporation [MTG]. The present Moving Average for the last 50 days of trading for this stock 11.11, while it was recorded at 12.21 for the last single week of trading, and 8.89 for the last 200 days.

MGIC Investment Corporation [MTG]: Deeper insight into the 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.

Earnings analysis for MGIC Investment Corporation [MTG]

With the latest financial reports released by the company, MGIC Investment Corporation posted 0.49/share EPS, while the average EPS was predicted by analysts to be reported at 0.43/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 14.00%. 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 -0.49%.

Insider trade positions for MGIC Investment Corporation [MTG]

There are presently around $3,796 million, or 94.90% of MTG stock, in the hands of institutional investors. The top three institutional holders of MTG stocks are: VANGUARD GROUP INC with ownership of 33,527,838, which is approximately -7.564% of the company’s market cap and around 0.10% of the total institutional ownership; FMR LLC, holding 27,389,093 shares of the stock with an approximate value of $330.04 million in MTG stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $307.67 million in MTG stock with ownership of nearly 85.671% of the company’s market capitalization.

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Positions in MGIC Investment Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 134 institutional holders increased their position in MGIC Investment Corporation [NYSE:MTG] by around 38,465,982 shares. Additionally, 173 investors decreased positions by around 39,803,562 shares, while 48 investors held positions by with 236,720,356 shares. The mentioned changes placed institutional holdings at 314,989,900 shares, according to the latest SEC report filing. MTG stock had 37 new institutional investments in for a total of 11,811,089 shares, while 47 institutional investors sold positions of 6,464,613 shares during the same period.

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