MGIC Investment Corporation (NYSE: MTG) is -11.43% lower on its value in year-to-date trading and has touched a low of $4.34 and a high of $15.24 in the current 52-week trading range. The MTG stock was last observed hovering at around $12.35 in the last trading session, with the day’s gains setting it 0.2% off its average median price target of $14.50 for the next 12 months. It is also 30.28% off the consensus price target high of $18.00 offered by 12 analysts, but current levels are -4.58% lower than the price target low of $12.00 for the same period.
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Currently trading at $12.55, the stock is 1.64% and 8.52% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.49 million and changing 1.62% at the moment leaves the stock 39.82% off its SMA200. MTG registered -11.37% loss for a year compared to 6-month gain of 58.46%. The firm has a 50-day simple moving average (SMA 50) of $12.23 and a 200-day simple moving average (SMA200) of $9.79.
The stock witnessed a 3.98% loss in the last 1 month and extending the period to 3 months gives it a 36.86%, and is 0.16% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.68% over the week and 2.62% over the month.
MGIC Investment Corporation (MTG) has around 724 employees, a market worth around $4.18B and $1.21B in sales. Current P/E ratio is 9.41 and Fwd P/E is 7.84. Profit margin for the company is 39.00%. Distance from 52-week low is 189.17% and -17.65% from its 52-week high. The company has generated returns on investments over the last 12 months (14.10%).
MGIC Investment Corporation (MTG) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for MGIC Investment Corporation (MTG) is a “Buy”. 12 analysts offering their recommendations for the stock have an average rating of 1.80, where 2 rate it as a Hold and 0 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
MGIC Investment Corporation is expected to release its quarterly report on 04/21/2021 and quarterly earnings per share for the current quarter are estimated at $0.37 with sales reaching $300.42M over the same period.The EPS is expected to grow by 3.80% this year, but quarterly earnings will post -1.60% year-over-year. Quarterly sales are estimated to shrink -3.60% in year-over-year returns.
MGIC Investment Corporation (MTG) Top Institutional Holders
430 institutions hold shares in MGIC Investment Corporation (MTG), with 5.41M shares held by insiders accounting for 1.60% while institutional investors hold 96.18% of the company’s shares. The shares outstanding are 338.60M, and float is at 332.94M with Short Float at 9.97%. Institutions hold 94.64% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 33.53 million shares valued at $297.06 million. The investor’s holdings represent 9.90% of the MTG Shares outstanding. As of Sep 29, 2020, the second largest holder is FMR, LLC with 27.39 million shares valued at $242.67 million to account for 8.09% of the shares outstanding. The other top investors are Wellington Management Company, LLP which holds 25.53 million shares representing 7.54% and valued at over $226.22 million, while Goldman Sachs Group, Inc. holds 6.19% of the shares totaling 20.96 million with a market value of $185.68 million.
MGIC Investment Corporation (MTG) Insider Activity
The most recent transaction is an insider purchase by LEHMAN MICHAEL E, the company’s Director. SEC filings show that LEHMAN MICHAEL E bought 8,000 shares of the company’s common stock on Aug 14 at a price of $8.49 per share for a total of $67901.0. Following the purchase, the insider now owns 37989.0 shares.
MGIC Investment Corporation disclosed in a document filed with the SEC on May 19 that Kozlak Jodee A (Director) bought a total of 5,000 shares of the company’s common stock. The trade occurred on May 19 and was made at $7.09 per share for $35465.0. Following the transaction, the insider now directly holds 5000.0 shares of the MTG stock.
Still, SEC filings show that on Feb 11, Sperber Julie K. (VP-Chief Accounting Officer) disposed off 5,535 shares at an average price of $14.28 for $79012.0. The insider now directly holds 82,239 shares of MGIC Investment Corporation (MTG).
MGIC Investment Corporation (MTG): Who are the competitors?
The company’s main competitors (and peers) include Hilltop Holdings Inc. (HTH) that is trading 10.75% up over the past 12 months. Old Republic International Corporation (ORI) is -11.73% down on the 1-year trading charts. Short interest in the company’s stock has risen 12.35% from the last report on Nov 12, 2020 to stand at a total of 29.1 million short shares sold with a short interest ratio of 8.33.