MGIC Investment Corp [NYSE: MTG] closed the trading session at $21.96. The company report on January 31, 2024 at 4:05 PM that MGIC Investment Corporation Reports Fourth Quarter 2023 Results.
Fourth Quarter 2023 Net Income of $184.5 million or $0.66 per Diluted Share.
Fourth Quarter 2023 Adjusted Net Operating Income (Non-GAAP) of $187.6 million or $0.67 per Diluted Share.
The stocks have a year to date performance of 13.84 percent and weekly performance of 4.67 percent. The stock has been moved at 26.94 percent over the last six months. The stock has performed 14.49 percent around the most recent 30 days and changed 16.01 percent over the most recent 3-months.
If compared to the average trading volume of 1.99M shares, MTG reached to a volume of 4160948 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 Corp [MTG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MTG shares is $22.12 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 1.67. 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.
UBS have made an estimate for MGIC Investment Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 06, 2023. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on November 15, 2023, representing the official price target for MGIC Investment Corp stock. Previously, the target price had yet another drop from $17 to $15.70, while RBC Capital Mkts kept a Sector Perform rating on MTG stock.
The Average True Range (ATR) for MGIC Investment Corp is set at 0.45, with the Price to Sales ratio for MTG stock in the period of the last 12 months amounting to 5.13. The Price to Book ratio for the last quarter was 1.18. Price to Free Cash Flow for MTG in the course of the last twelve months was 8.33.
MTG stock trade performance evaluation
MGIC Investment Corp [MTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.67. With this latest performance, MTG shares gained by 14.49% in over the last four-week period, additionally plugging by 26.94% over the last 6 months – not to mention a rise of 74.15% 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 75.71, with the RSI for the last a single of trading hit 80.15, and the three-weeks RSI is set at 71.93 for MGIC Investment Corp [MTG]. The present Moving Average for the last 50 days of trading for this stock 19.77, while it was recorded at 21.10 for the last single week of trading, and 17.83 for the last 200 days.
MGIC Investment Corp [MTG]: An insightful look at the core fundamentals
MGIC Investment Corp’s liquidity data is similarly interesting compelling, with a Current Ratio set at 2.58.
Earnings per share (EPS) analysis for MGIC Investment Corp [MTG] stock
With the latest financial reports released by the company, MGIC Investment Corp posted 0.54/share EPS, while the average EPS was predicted by analysts to be reported at 0.5/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.00%. 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 Corp go to 3.09%.
MGIC Investment Corp [MTG]: Institutional Ownership
The top three institutional holders of MTG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MTG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MTG stock with ownership which is approximately 5.8325%.
