MGIC Investment Corporation [MTG] Revenue clocked in at $1.19 billion, down -4.09% YTD: What’s Next?

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MGIC Investment Corporation [NYSE: MTG] gained 0.80% or 0.11 points to close at $13.83 with a heavy trading volume of 3465847 shares. The company report on April 11, 2022 that MGIC Announces Support for MISMO JSON API Rate Estimate.

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MGIC MI Rate Quotes Now Available Through Industry Standard JSON API.

Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG) and the nation’s first private mortgage insurer, announced today that it is fully enabled to integrate with lenders and technology partners wanting to utilize the recently announced industry standard MISMO JSON API for mortgage insurance estimated rate quotes.1 The MISMO API will access MGIC’s risk based MiQ pricing ensuring accuracy and consistency throughout the mortgage origination lifecycle.

It opened the trading session at $13.86, the shares rose to $14.025 and dropped to $13.77, the range by which the price of stock traded the whole day. The daily chart for MTG points out that the company has recorded -15.26% loss over the past six months. However, it is still -8.05% lower than its most recent low trading price.

If we look at the average trading volume of 3.53M shares, MTG reached to a volume of 3465847 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 $18.33 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 2.00. 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 0.35, with the Price to Sales ratio for MTG stock in the period of the last 12 months amounting to 3.63. The Price to Book ratio for the last quarter was 0.92, with the Price to Cash per share for the same quarter was set at 0.92. 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 6.88. With this latest performance, MTG shares dropped by -1.07% in over the last four-week period, additionally sinking by -15.26% over the last 6 months – not to mention a drop of -4.29% 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 52.40, with the RSI for the last a single of trading hit 61.27, and the three-weeks RSI is set at 48.76 for MGIC Investment Corporation [MTG]. The present Moving Average for the last 50 days of trading for this stock 14.32, while it was recorded at 13.56 for the last single week of trading, and 14.79 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 +76.75. MGIC Investment Corporation’s Net Margin is presently recorded at +53.55.

Return on Equity for this stock inclined to 13.28, with Return on Assets sitting at 8.77.

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 10.13%.

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

There are presently around $4,189 million, or 96.15% of MTG stock, in the hands of institutional investors. The top three institutional holders of MTG stocks are: VANGUARD GROUP INC with ownership of 31,859,674, which is approximately -1.727% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 27,745,345 shares of the stock with an approximate value of $380.67 million in MTG stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $308.23 million in MTG stock with ownership of nearly -21.156% of the company’s market capitalization.

Positions in MGIC Investment Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 138 institutional holders increased their position in MGIC Investment Corporation [NYSE:MTG] by around 23,985,104 shares. Additionally, 163 investors decreased positions by around 38,272,330 shares, while 62 investors held positions by with 243,037,713 shares. The mentioned changes placed institutional holdings at 305,295,147 shares, according to the latest SEC report filing. MTG stock had 49 new institutional investments in for a total of 9,779,555 shares, while 30 institutional investors sold positions of 6,711,676 shares during the same period.