MGIC Investment Corporation [MTG] is 3.38% higher this YTD. Is it still time to buy?

MGIC Investment Corporation [NYSE: MTG] closed the trading session at $13.44 on 01/18/23. The day’s price range saw the stock hit a low of $13.31, while the highest price level was $13.725. The company report on January 3, 2023 that MGIC Investment Corporation Schedules 4th Quarter 2022 Earnings Call.


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MGIC Investment Corporation (NYSE: MTG) has announced plans to release its fourth quarter 2022 financial results after the market closes on Wednesday, February 1, 2023.  A conference call/webcast has been scheduled for 10:00 a.m. Eastern Time on Thursday, February 2, 2023, to discuss the Company’s results for the quarter ended December 31, 2022.

Individuals interested in joining by telephone should register for the call “here” to receive the dial-in number and unique PIN to access the call. It is recommended that you join the call at least 10 minutes before the conference call begins. The call is also being webcast and can be accessed via the Company’s Investor website found at http://mtg.mgic.com under Newsroom. A replay of the webcast will be available on the Company’s website through March 2, 2023.

The stocks have a year to date performance of 3.38 percent and weekly performance of 4.27 percent. The stock has been moved at -0.74 percent over the last six months. The stock has performed 3.31 percent around the most recent 30 days and changed 5.33 percent over the most recent 3-months.

If compared to the average trading volume of 3.05M shares, MTG reached to a volume of 4854584 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 $16.19 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.

Barclays have made an estimate for MGIC Investment Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on January 06, 2023. While these analysts kept the previous recommendation, Compass Point dropped their target price from $19 to $14.50. The new note on the price target was released on November 09, 2022, representing the official price target for MGIC Investment Corporation stock. Previously, the target price had yet another raise to $18, while BofA Securities analysts kept a Buy rating on MTG stock. On June 23, 2022, analysts increased their price target for MTG shares from 15 to 16.

The Average True Range (ATR) for MGIC Investment Corporation is set at 0.30, with the Price to Sales ratio for MTG stock in the period of the last 12 months amounting to 3.41. The Price to Book ratio for the last quarter was 0.90, with the Price to Cash per share for the same quarter was set at 0.81. Price to Free Cash Flow for MTG in the course of the last twelve months was 7.20.

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 4.27. With this latest performance, MTG shares gained by 3.31% in over the last four-week period, additionally sinking by -0.74% over the last 6 months – not to mention a drop of -18.35% 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 59.84, with the RSI for the last a single of trading hit 66.46, and the three-weeks RSI is set at 55.93 for MGIC Investment Corporation [MTG]. The present Moving Average for the last 50 days of trading for this stock 13.19, while it was recorded at 13.28 for the last single week of trading, and 13.42 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 4.05%.

MGIC Investment Corporation [MTG]: Insider Ownership positions

There are presently around $4,022 million, in the hands of institutional investors. The top three institutional holders of MTG stocks are: VANGUARD GROUP INC with ownership of 37,980,396, which is approximately 5.964% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 26,710,531 shares of the stock with an approximate value of $358.99 million in MTG stocks shares; and GOLDMAN SACHS GROUP INC, currently with $329.41 million in MTG stock with ownership of nearly 21.171% of the company’s market capitalization.

Positions in MGIC Investment Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 168 institutional holders increased their position in MGIC Investment Corporation [NYSE:MTG] by around 31,426,887 shares. Additionally, 167 investors decreased positions by around 24,992,546 shares, while 58 investors held positions by with 242,836,216 shares. The mentioned changes placed institutional holdings at 299,255,649 shares, according to the latest SEC report filing. MTG stock had 46 new institutional investments in for a total of 3,842,652 shares, while 36 institutional investors sold positions of 2,624,859 shares during the same period.

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