MGIC Investment Corporation (MTG) : 6 analysts are covering MGIC Investment Corporation (MTG) and their average rating on the stock is 1.83, which is read as a Buy. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. MGIC Investment Corporation (MTG) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
MGIC Investment Corporation (MTG) : Average target price received by MGIC Investment Corporation (MTG) is $9.25 with an expected standard deviation of $0.5. The most aggressive target on the stock is $10, whereas the most downbeat target is $9. 4 financial analysts are currently covering the stock.
For the current week, the company shares have a recommendation consensus of Buy. Also, Compass Point upgrades its rating on MGIC Investment Corporation (NYSE:MTG). Analysts at the Compass Point have a current rating of Buy on the shares. The shares were previously rated Neutral. The rating by the firm was issued on July 20, 2016.
MGIC Investment Corporation (NYSE:MTG): The stock opened at $8.14 and touched an intraday high of $8.215 on Wednesday. During the day, the stock corrected to an intraday low of $8.03, however, the bulls stepped in and pushed the price higher to close in the green at $8.18 with a gain of 1.74% for the day. The total traded volume for the day was 3,650,849. The stock had closed at $8.04 in the previous trading session.
MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries, the Company provides private mortgage insurance and ancillary services. The Companys subsidiaries include Mortgage Guaranty Insurance Corporation (MGIC) and MGIC Indemnity Corporation (MIC). The Company provides mortgage insurance to lenders throughout the United States and to Government sponsored entities to protect against loss from defaults on low down payment residential mortgage loans. Its principal product is primary mortgage insurance. Primary insurance provides mortgage default protection on individual loans and covers unpaid loan principal, delinquent interest and certain expenses associated with the default and subsequent foreclosure or sale approved by the Company. Through certain other non-insurance subsidiaries, it also provides various services for the mortgage finance industry, such as contract underwriting and portfolio analysis and retention.