MGIC Investment Corporation [MTG] fell -6.66% so far this year. What now?


MGIC Investment Corporation [NYSE: MTG] plunged by -$0.34 during the normal trading session on Thursday and reaching a high of $14.09 during the day while it closed the day at $13.46. The company report on May 5, 2022 that MGIC Announces Officer Promotions in Customer Experience and Mortgage Modeling Analytics.

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Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), today announced the promotion of Christina Ficks to Vice President – Customer Experience, and Erik Leaver to Vice President – Mortgage Modeling Analytics.

Ms. Ficks joined MGIC in 2017, earning progressive responsibilities in the areas of technology integration and automation before stepping into her current role of Director – Pricing Implementation in 2020. She holds a Bachelor of Business Administration degree in Information Technology from the University of Wisconsin-Whitewater.

MGIC Investment Corporation stock has also gained 0.90% of its value over the past 7 days. However, MTG stock has declined by -11.62% in the 3 months of the year. Over the past six months meanwhile, it has lost -15.51% and lost -6.66% year-on date.

The market cap for MTG stock reached $4.34 billion, with 323.19 million shares outstanding and 310.72 million shares in the current float. Compared to the average trading volume of 3.48M shares, MTG reached a trading volume of 3694869 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $18.17 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 0.41, with the Price to Sales ratio for MTG stock in the period of the last 12 months amounting to 3.66. The Price to Book ratio for the last quarter was 0.89, with the Price to Cash per share for the same quarter was set at 0.88. Price to Free Cash Flow for MTG in the course of the last twelve months was 7.26.

MTG stock trade performance evaluation

MGIC Investment Corporation [MTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.90. With this latest performance, MTG shares gained by 1.36% in over the last four-week period, additionally sinking by -15.51% over the last 6 months – not to mention a drop of -4.94% 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 49.34, with the RSI for the last a single of trading hit 51.75, and the three-weeks RSI is set at 47.59 for MGIC Investment Corporation [MTG]. The present Moving Average for the last 50 days of trading for this stock 13.80, while it was recorded at 13.40 for the last single week of trading, and 14.77 for the last 200 days.

MGIC Investment Corporation [MTG]: An insightful look at the core fundamentals

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.

Earnings per share (EPS) analysis for MGIC Investment Corporation [MTG] stock

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%.

MGIC Investment Corporation [MTG]: Insider Ownership positions

There are presently around $4,175 million, or 99.40% 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 $382.89 million in MTG stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $310.03 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 148 institutional holders increased their position in MGIC Investment Corporation [NYSE:MTG] by around 20,788,387 shares. Additionally, 158 investors decreased positions by around 40,549,740 shares, while 64 investors held positions by with 241,184,461 shares. The mentioned changes placed institutional holdings at 302,522,588 shares, according to the latest SEC report filing. MTG stock had 52 new institutional investments in for a total of 6,347,289 shares, while 29 institutional investors sold positions of 6,348,772 shares during the same period.