MGIC Investment Corporation [MTG] Revenue clocked in at $1.19 billion, up 15.14% YTD: What’s Next?


MGIC Investment Corporation [NYSE: MTG] gained 1.33% or 0.19 points to close at $14.45 with a heavy trading volume of 4064272 shares. The company report on November 5, 2021 that Sri Kadasinghanahalli joins MGIC as Vice President, Data & Analytics.

Today MGIC Investment Corporation’s (NYSE: MTG) principal subsidiary Mortgage Guaranty Insurance Corporation (MGIC) announced that Sri Kadasinghanahalli joined the company on October 18, 2021 as Vice President, Systems Development.

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Mr. Kadasinghanahalli’s previous leadership experience includes PNC Financial, Truist Financial, and SunTrust Bank. Mr. Kadasinghanahalli has implemented Big Data solutions, modernized client data platforms, and reduced risk through data loss prevention, and most recently as SVP, Security & Technology Director at PNC Financial, he delivered enterprise focused security solutions.

It opened the trading session at $14.32, the shares rose to $14.50 and dropped to $14.19, the range by which the price of stock traded the whole day. The daily chart for MTG points out that the company has recorded 6.25% gains over the past six months. However, it is still -25.0% lower than its most recent low trading price.

If we look at the average trading volume of 2.94M shares, MTG reached to a volume of 4064272 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $17.61 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.

BofA Securities have made an estimate for MGIC Investment Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 17, 2021. The new note on the price target was released on October 07, 2020, representing the official price target for MGIC Investment Corporation stock. Previously, the target price had yet another raise to $12, while Keefe Bruyette analysts kept a Mkt Perform rating on MTG stock.

The Average True Range (ATR) for MGIC Investment Corporation is set at 0.37, with the Price to Sales ratio for MTG stock in the period of the last 12 months amounting to 3.88. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 0.55. Price to Free Cash Flow for MTG in the course of the last twelve months was 7.19.

Trading performance analysis for MTG stock

MGIC Investment Corporation [MTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.17. With this latest performance, MTG shares gained by 0.07% in over the last four-week period, additionally plugging by 6.25% over the last 6 months – not to mention a rise of 18.15% 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 51.45, with the RSI for the last a single of trading hit 57.29, and the three-weeks RSI is set at 48.51 for MGIC Investment Corporation [MTG]. The present Moving Average for the last 50 days of trading for this stock 15.01, while it was recorded at 14.21 for the last single week of trading, and 14.58 for the last 200 days.

MGIC Investment Corporation [MTG]: A deeper dive into fundamental analysis

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 6.60. 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 17.13. 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.

MGIC Investment Corporation [MTG]: An earnings per share (EPS) analysis

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 10.20%.

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An analysis of insider ownership at MGIC Investment Corporation [MTG]

There are presently around $4,569 million, or 97.71% of MTG stock, in the hands of institutional investors. The top three institutional holders of MTG stocks are: VANGUARD GROUP INC with ownership of 32,419,482, which is approximately -0.678% of the company’s market cap and around 0.10% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 28,494,205 shares of the stock with an approximate value of $406.33 million in MTG stocks shares; and BLACKROCK INC., currently with $405.17 million in MTG stock with ownership of nearly -1.189% of the company’s market capitalization.

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 128 institutional holders increased their position in MGIC Investment Corporation [NYSE:MTG] by around 20,027,728 shares. Additionally, 160 investors decreased positions by around 25,932,418 shares, while 57 investors held positions by with 274,472,725 shares. The mentioned changes placed institutional holdings at 320,432,871 shares, according to the latest SEC report filing. MTG stock had 36 new institutional investments in for a total of 6,947,134 shares, while 25 institutional investors sold positions of 6,684,890 shares during the same period.