Zacks Investment Research downgraded MGIC Investment Corp. (NYSE:MTG) to Hold in a report released today.
- Updated: September 20, 2016
Zacks Investment Research has downgraded MGIC Investment Corp.(NYSE:MTG) to Hold in a report released on Tuesday September 20 2016.
Previously on 9/13/2016, Zacks Investment Research released a statement on MGIC Investment Corp.(NYSE:MTG) raised the target price from $0.00 to $9.50. At the time, this suggested an upside of 0.16%.
Yesterday MGIC Investment Corp. (NYSE:MTG) traded 0.25% lower at $8.00. MGIC Investment Corp.’s 50-day average is $7.82 and its 200-day moving average is $7.13. With the last stock close up 12.24% relative to the 200-day average, compared to the S&P 500 Index which has fallen -0.01% over the date range. Trade volume was down over the average, with 2,242,708 shares of MTG changing hands under the typical 6,292,190 shares..
Recent Performance Graphic:
With a total market value of $0.0, MGIC Investment Corp. has a price-earnings of 3 with a one-year low of $5.36 and a 52 week high of $10.05.
Also covering MGIC Investment Corp.’s stock price target, a total of 12 brokerages have issued a research note on the company. The 12-month target stock price is $9.33 with three firms rating the company a strong buy, seven firms rating the stock a buy, six analyts rating the stock a hold, 0 rating the company to underperform, and finally 0 firmsrating the stock as sell.
More 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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