Credit Suisse Group raises MGIC Investments (NYSE:MTG) price target to $17.00

MGIC Investments (NYSE:MTG – Get Ratings ) Credit Suisse Group upped its target price to $17.00 in a research report issued to clients and investors on Monday, Stock Target Advisors reports. Credit Suisse Group’s target price would indicate a potential upside of 12.88% from the company’s current price.

MTG has been the subject of several other research reports. Bank of America raised shares of MGIC Investments 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 Investments from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $15.00 to $16.00 in a research note on Thursday, June 23rd. Finally, StockNews.com raised shares of MGIC Investments 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, based on data from MarketBeat.

MGIC investment value performance

Shares of MGIC Investment stock traded up $0.25 during mid-day trading on Monday, reaching $15.06. 3,138,768 shares of the stock exchanged 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 firm 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 capitalization 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 trading of MGIC Investments

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Recently, many institutional investors have bought and sold shares of MTG. Allspring Global Investments Holdings LLC bought a new position in MGIC Investments during the 4th quarter worth approximately $277,000. American Century Companies Inc. lifted its holdings in shares of MGIC Investments by 27.5% in the fourth quarter. American Century Companies Inc. now owns 1,040,842 shares of the insurance provider’s stock valued at $15,009,000 after purchasing an additional 224,569 shares during the period. SG Americas Securities LLC boosted its stake in MGIC Investments 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 in the last quarter. Victory Capital Management Inc. boosted its position in shares of MGIC Investments by 4.7% in 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 Investments by 9.0% during the fourth quarter. ProShare Advisors LLC now owns 57,447 shares of the insurance provider’s stock valued at $829,000 after buying an additional 4,741 shares during the last quarter. Institutional investors and hedge funds own 94.10% of the company’s stock.

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 institutions in the United States, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on personal loans, as well as covers unpaid loan principal, interest, and various expenses associated with default and subsequent foreclosure.

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Analyst Recommendations for MGIC Investments (NYSE:MTG).

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