For MGIC Investment Corporation [MTG], Analyst sees a rise to $18. What next?

MGIC Investment Corporation [NYSE: MTG] surged by $0.23 during the normal trading session on Thursday and reaching a high of $14.67 during the day while it closed the day at $14.37. The company report on September 2, 2022 that MGIC to Participate at the Barclays Global Financial Service Conference.


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MGIC Investment Corporation (NYSE: MTG) announced today that the company’s Chief Executive Officer, Tim Mattke, will participate in a fireside chat at the Barclays Global Financial Conference, being held at the New York Hilton Midtown, on Tuesday, September 13, 2022 at 11:15 a.m. Eastern Time.

The fireside chat will be webcast live and can be accessed at the company’s website, http://mtg.mgic.com/ under Newsroom or  MGIC Investment Corporation – 1567954 (webcasts.com).  A series of related slides will also be available on both websites on  Monday, September 12, 2022.  A replay of the fireside chat will be available for 30 days at http://mtg.mgic.com/.

MGIC Investment Corporation stock has also gained 0.98% of its value over the past 7 days. However, MTG stock has inclined by 16.45% in the 3 months of the year. Over the past six months meanwhile, it has gained 0.98% and lost -0.35% year-on date.

The market cap for MTG stock reached $4.30 billion, with 308.84 million shares outstanding and 298.58 million shares in the current float. Compared to the average trading volume of 2.58M shares, MTG reached a trading volume of 4066332 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 $18.38 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 2.10. 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 Buy, with their previous recommendation back on August 18, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $15 to $16. The new note on the price target was released on June 23, 2022, representing the official price target for MGIC Investment Corporation stock. Previously, the target price had yet another raise from $16 to $16.50, while BofA Securities kept a Neutral 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 3.65. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 1.37. Price to Free Cash Flow for MTG in the course of the last twelve months was 7.18.

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 0.98. With this latest performance, MTG shares dropped by -6.63% in over the last four-week period, additionally plugging by 0.98% over the last 6 months – not to mention a drop of -4.52% 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 50.38, with the RSI for the last a single of trading hit 50.40, and the three-weeks RSI is set at 51.41 for MGIC Investment Corporation [MTG]. The present Moving Average for the last 50 days of trading for this stock 14.19, while it was recorded at 14.36 for the last single week of trading, and 14.09 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 5.26%.

MGIC Investment Corporation [MTG]: Insider Ownership positions

There are presently around $4,317 million, or 97.42% of MTG stock, in the hands of institutional investors. The top three institutional holders of MTG stocks are: VANGUARD GROUP INC with ownership of 35,842,690, which is approximately 8.529% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 27,154,424 shares of the stock with an approximate value of $390.21 million in MTG stocks shares; and GOLDMAN SACHS GROUP INC, currently with $290.67 million in MTG stock with ownership of nearly 93.402% of the company’s market capitalization.

Positions in MGIC Investment Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 151 institutional holders increased their position in MGIC Investment Corporation [NYSE:MTG] by around 33,892,086 shares. Additionally, 186 investors decreased positions by around 25,523,991 shares, while 56 investors held positions by with 241,011,938 shares. The mentioned changes placed institutional holdings at 300,428,015 shares, according to the latest SEC report filing. MTG stock had 38 new institutional investments in for a total of 2,945,498 shares, while 36 institutional investors sold positions of 3,990,941 shares during the same period.

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