Keefe Bruyette slashes price target on MGIC Investment Corporation [MTG] – find out why.

MGIC Investment Corporation [NYSE: MTG] stock went on a downward path that fall over -1.71% on Tuesday, amounting to a one-week price decrease of less than 0.00%. The company report on June 7, 2021 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 May 2021. 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 May we report as a new delinquency any delinquent loan that missed its April 1st (or earlier) payment that was not previously reported to us). We expect the number of delinquencies will continue to be influenced by various factors related to the COVID-19 pandemic, including its length and severity, the length of time that measures intended to reduce its transmission remain in place, the resulting level of unemployment, the impact of various government initiatives to mitigate the resulting economic harm and efforts to reduce its transmission.

Over the last 12 months, MTG stock rose by 74.06%. The one-year MGIC Investment Corporation stock forecast points to a potential upside of 17.0. The average equity rating for MTG stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.71 billion, with 338.90 million shares outstanding and 334.64 million shares in the current float. Compared to the average trading volume of 2.85M shares, MTG stock reached a trading volume of 3176437 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 $16.65 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 0.35, with the Price to Sales ratio for MTG stock in the period of the last 12 months amounting to 3.96. The Price to Book ratio for the last quarter was 0.99, with the Price to Cash per share for the same quarter was set at 0.54. Price to Free Cash Flow for MTG in the course of the last twelve months was 7.12.

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 0.00. With this latest performance, MTG shares dropped by -5.99% in over the last four-week period, additionally plugging by 14.88% over the last 6 months – not to mention a rise of 74.06% 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 44.70, with the RSI for the last a single of trading hit 44.19, and the three-weeks RSI is set at 45.93 for MGIC Investment Corporation [MTG]. The present Moving Average for the last 50 days of trading for this stock 14.39, while it was recorded at 13.85 for the last single week of trading, and 12.64 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 +53.84. MGIC Investment Corporation’s Net Margin is presently recorded at +37.20.

Return on Total Capital for MTG is now 11.65, given the latest momentum, and Return on Invested Capital for the company is 8.05. Return on Equity for this stock inclined to 9.90, with Return on Assets sitting at 6.54. When it comes to the capital structure of this company, MGIC Investment Corporation [MTG] has a Total Debt to Total Equity ratio set at 26.46. Additionally, MTG Total Debt to Total Capital is recorded at 20.92, with Total Debt to Total Assets ending up at 16.90. Long-Term Debt to Equity for the company is recorded at 26.46, with the Long-Term Debt to Total Capital now at 20.92.

Reflecting on the efficiency of the workforce at the company, MGIC Investment Corporation [MTG] managed to generate an average of $603,644 per employee.

MTG Stock EPS

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 10.79%.

MGIC Investment Corporation [MTG] Insider Position Details

There are presently around $4,458 million, or 97.00% of MTG stock, in the hands of institutional investors. The top three institutional holders of MTG stocks are: VANGUARD GROUP INC with ownership of 35,376,532, which is approximately 3.38% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 31,354,071 shares of the stock with an approximate value of $433.31 million in MTG stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $394.47 million in MTG stock with ownership of nearly 2.309% 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 July and at the time of the July reporting period, where 130 institutional holders increased their position in MGIC Investment Corporation [NYSE:MTG] by around 25,861,558 shares. Additionally, 178 investors decreased positions by around 35,243,102 shares, while 50 investors held positions by with 261,491,202 shares. The mentioned changes placed institutional holdings at 322,595,862 shares, according to the latest SEC report filing. MTG stock had 42 new institutional investments in for a total of 4,925,233 shares, while 40 institutional investors sold positions of 7,791,488 shares during the same period.

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