MGIC Investment Corporation (NYSE:MTG) Assigned A Consensus Outperform Rating

MGIC Investment Corporation (NYSE:MTG) stock is presently standing at about $10.65 and lots of equity research firms seem to have a target price set on the stock. The median one-year price target of 9 analysts covering the company is $12.00, which suggests the stock could still rise over 11 percent. The highest analyst price target is $13.00, which implies a rally of 78 percent. And a quick view of analyst notes show that 5 are rating the stock a buy while 5 rate MTG a strong buy. There are 3 equity research firms advocating a Hold and 0 consider it Sell.

BofA/Merrill analysts provided their view on MGIC Investment Corporation (NYSE:MTG) recently. The rating firm issued a Buy rating to this company in a research note released on Oct 17, 2016. Compass Point analysts disclosed their opinion on MGIC Investment Corporation (NYSE:MTG) recently. The rating firm gave a Buy rating to this stock in a research note published on Jul 20, 2016. According to a research note disclosed on Jun 30, 2016, analysts at FBR Capital have upped their rating on these shares from Mkt Perform to Outperform.

MGIC Investment Corporation (NYSE:MTG) Transactions Roundup

Several insiders were part of recent insider activity for the stock. Its Director CARR CASSANDRA C Purchased 5,000 company shares for 31750, in a transaction on 2016-02-09. Following the transaction, the Director is left with a stake of 5,000 shares, currently valued at $53250. Meanwhile, SVP-Chief Information Officer Chi Gregory A. purchased 10,000 shares worth $63600, through a transaction dated 2016-01-28. Following the completion of the transaction, the insider is left with a stake of 204,060 shares, amounting $2173239. MTG EVP – Chief Risk Officer Mackey Stephen C also purchased 5,000 shares, at a stock price of $6.43. This transaction occurred on 2016-01-28 totals $32150. After this transaction, the insider’s stake stands at 150,000 shares, with a market value of $1597500.

Executives hold 2.20 percent of the stock. Curt S. Culver is one of the biggest insider owners in MGIC Investment Corporation (NYSE:MTG), according to U.S. Securities and Exchange Commission (SEC) filings. The insider owns 1,521,659 shares which have current market value of around $16205668.35.Patrick Sinks is another major inside shareholder in the company. The insider owns 1,337,788 shares as of 0.39%, currently worth $14247442.2. J. Michael Lauer is ranked as third insider holder of the stock. This insider holds 866,094 shares with a market value around $9223901.1 as of recent close.

MGIC Investment Corporation (NYSE:MTG) Earnings Outlook

In MGIC Investment Corporation (NYSE:MTG)’s latest quarter, EPS moved to $0.28 from $0.14 in preceding quarter and revenues reached at $266.52M compared to $273.85M. Analysts had expected MGIC Investment Corporation (NYSE:MTG) to post net income of about $0.22 per share on $265.33M in revenue. Looking ahead, analysts on average predict that earnings for the current quarter would come in in the range of $0.22 to $0.25. That is compared with the $0.18 in EPS it reported during the same period a year ago.

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