A statement released earlier today by Zacks Investment Research about MGIC Investment Corp. (NYSE:MTG) bumps the target price to $9.50
- Updated: September 15, 2016
Boasting a price of $8.20, MGIC Investment Corp. (NYSE:MTG) traded 0.50% higher on the day. With the last close up 12.50% relative to the 200-day moving average, compared to the S&P 500 Index which has fallen -0.01% over the same period. MTG has been tracking to a 50-day average of $7.76 and two hundred day average of $7.12. Volume of trade was was down over the average, with 2,807,893 shares of MTG changing hands under the typical 6,493,410 shares.
Zacks Investment Research raised the target price of MGIC Investment Corp. (NYSE:MTG) to $10, indicating a possible upside of 0.16%,
Recent Performance Chart:
A total of 12 equity analysts have released a research note on the stock. Three analysts rate the stock a strong buy, seven analysts rate the stock a buy, six firms rate the company a hold, 0 rate the company to underperform, and finally 0 brokeragesrate the stock as sell with an average target of $9.33
MGIC Investment Corp. has a 52 week low of $5.36 and a one-year high of $10.46 with a PE ratio of 3. MTG’s market cap is currently $0.0.
About MGIC Investment Corp. (NYSE:MTG)
MGIC Investment Corporation is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. 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, the Company also provides various services for the mortgage finance industry, such as contract underwriting, analysis of loan originations and portfolios, and and mortgage lead generation. The Company’s subsidiaries include Mortgage Guaranty Insurance Corporation (MGIC) and MGIC Indemnity Corporation (MIC).
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