MGIC (NYSE:MTG) investment target price raised by Credit Suisse Group to $17.00

MGIC Investment (NYSE:MTG – Get a Rating) Credit Suisse Group upped their target price to $17.00 in a research report issued to clients and investors on Monday, Stock Target Advisor reports. Credit Suisse Group’s price target indicates a potential upside of 12.88% from the company’s current price.

MTG has been the subject of other investigative reports. Bank of America raised shares of MGIC Investment from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Thursday. Royal Bank of Canada upgraded shares of MGIC Investment from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $15.00 to $16.00 in a research note on Thursday, June 23rd. Finally, StockNews.com raised shares of MGIC Investment from a “hold” rating to a “buy” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. MGIC Investment currently has an average rating of “Moderate Buy” and a consensus price target of $18.33, according to data from MarketBeat.

MGIC investment price performance

MGIC Investment stock traded down $0.25 during mid-day trading on Monday, hitting $15.06. 3,138,768 shares of the stock traded hands, compared to its average volume of 3,075,143. The company has a current ratio of 0.62, a quick ratio of 0.62, and a debt-to-equity ratio of 0.20. The company has a 50-day simple moving average of $13.46 and a 200-day simple moving average of $13.80. MGIC Investment has a fifty-two week low of $11.38 and a fifty-two week high of $16.84. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 6.49, a price-to-earnings-growth ratio of 1.26 and a beta of 1.47.

Institutional Marketing of MGIC Investment

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A number of institutional investors have recently bought and sold shares of MTG. Allspring Global Investments Holdings LLC purchased a new position in MGIC Investment during the fourth quarter valued at approximately $277,000. American Century Companies Inc. raised its holdings in shares of MGIC Investment by 27.5% during the fourth quarter. American Century Companies Inc. now owns 1,040,842 shares of the insurance provider’s stock worth $15,009,000 after purchasing an additional 224,569 shares during the period. SG Americas Securities LLC raised its stake in MGIC Investment by 10.2% during the fourth quarter. SG Americas Securities LLC now owns 30,987 shares of the insurance provider’s stock valued at $447,000 after buying an additional 2,863 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of MGIC Investment by 4.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,792,922 shares of the insurance provider’s stock worth $40,274,000 after acquiring an additional 125,476 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in MGIC Investment by 9.0% during the fourth quarter. ProShare Advisors LLC now owns 57,447 shares of the insurance provider’s stock worth $829,000 after purchasing an additional 4,741 shares during the last quarter. Institutional investors and hedge funds own 94.10% of the company’s shares.

MGIC Investment Company Profile

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MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions and ancillary services to lenders and government-sponsored entities in the United States, Puerto Rico and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans as well as covers unpaid loan principal, late interest and various expenses associated with default and subsequent foreclosure.

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