Today’s Stock Alert: Could MGIC Investment Corp. See a Reversal After This Very Strong Session?

Today's Stock Alert: Could MGIC Investment Corp. See a Reversal After This Very Strong Session?

The stock of MGIC Investment Corp. (NYSE:MTG) is a huge mover today! About 3.10M shares traded hands. MGIC Investment Corp. (NYSE:MTG) has risen 8.01% since March 9, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.
The move comes after 7 months positive chart setup for the $2.76B company. It was reported on Oct, 12 by We have $11.69 PT which if reached, will make NYSE:MTG worth $1.21B more.

Analysts await MGIC Investment Corp. (NYSE:MTG) to report earnings on October, 20. They expect $0.17 earnings per share, down 41.38% or $0.12 from last year’s $0.29 per share. MTG’s profit will be $57.78M for 11.94 P/E if the $0.17 EPS becomes a reality. After $0.26 actual earnings per share reported by MGIC Investment Corp. for the previous quarter, Wall Street now forecasts -34.62% negative EPS growth.

MGIC Investment Corp. (NYSE:MTG) Ratings Coverage

Out of 6 analysts covering MGIC Investment Corp. (NYSE:MTG), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. MGIC Investment Corp. has been the topic of 14 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by M Partners given on Thursday, January 21. The firm has “Outperform” rating given on Thursday, June 30 by FBR Capital. The stock of MGIC Investment Corp. (NYSE:MTG) has “Outperform” rating given on Monday, October 12 by Keefe Bruyette & Woods. FBR Capital maintained the stock with “Mkt Perform” rating in Friday, January 22 report. The stock of MGIC Investment Corp. (NYSE:MTG) has “Neutral” rating given on Monday, May 2 by Credit Suisse. The firm earned “Buy” rating on Wednesday, July 20 by Compass Point. FBR Capital maintained it with “Mkt Perform” rating and $11 target price in Friday, October 16 report. Compass Point downgraded the shares of MTG in a report on Wednesday, April 20 to “Neutral” rating. The firm has “Buy” rating given on Wednesday, August 12 by Compass Point. Compass Point maintained it with “Neutral” rating and $8.50 target price in Tuesday, May 10 report.

According to Zacks Investment Research, “MGIC Investment Corporation is a holding company which, through its wholly owned subsidiary, Mortgage Guaranty Insurance Corporation, is the leading provider of private mortgage insurance coverage in the United States to the home mortgage lending industry. Private mortgage insurance covers residential first mortgage loans and expands home ownership opportunities by enabling people to purchase homes with less than 20% down payments. If the home owner defaults, private mortgage insurance reduces and, in some instances, eliminates the loss to the insured institution.”

Insitutional Activity: The institutional sentiment increased to 1.18 in Q2 2016. Its up 0.27, from 0.91 in 2016Q1. The ratio is positive, as 35 funds sold all MGIC Investment Corp. shares owned while 72 reduced positions. 43 funds bought stakes while 83 increased positions. They now own 306.43 million shares or 5.08% less from 322.83 million shares in 2016Q1.
Panagora Asset Management owns 115,257 shares or 0% of their US portfolio. Seawolf Limited Co last reported 530,800 shares in the company. Graybill Bartz And Associate last reported 370,665 shares in the company. Moreover, Vanguard Group has 0.01% invested in MGIC Investment Corp. (NYSE:MTG) for 31.71 million shares. Walleye Trading Ltd Liability Com last reported 0% of its portfolio in the stock. Zweig accumulated 0.15% or 250,000 shares. First Ltd Partnership holds 0.01% or 364,851 shares in its portfolio. California Employees Retirement System holds 0.01% or 760,800 shares in its portfolio. Manufacturers Life Ins The, a Ontario – Canada-based fund reported 230,488 shares. Aperio Group Limited Company accumulated 0% or 27,581 shares. Parametric Port Assocs Limited has invested 0% of its portfolio in MGIC Investment Corp. (NYSE:MTG). Blackrock Gru last reported 265,850 shares in the company. Principal Fincl Grp Inc Inc has 45,613 shares for 0% of their US portfolio. Private Advisor Group Incorporated Lc has 0% invested in the company for 12,516 shares. Ameritas Investment Prtn holds 0.01% or 26,211 shares in its portfolio.

Another recent and important MGIC Investment Corp. (NYSE:MTG) news was published by which published an article titled: “MGIC Investment Corporation Schedules 3rd Quarter 2016 Earnings Call and …” on October 10, 2016.

MTG Company Profile

MGIC Investment Corporation, incorporated on June 21, 1984, is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. The Company’s subsidiaries include Mortgage Guaranty Insurance Corporation (MGIC) and MGIC Indemnity Corporation (MIC). The Firm 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. The Company’s 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, the Company also provides various services for the mortgage finance industry, such as contract underwriting, analysis of loan originations and portfolios, and mortgage lead generation.

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