Zacks Investment Research downgraded MGIC Investment Corp. (NYSE:MTG) to Hold in a statement released earlier today.
- Updated: October 13, 2016
Boasting a price of $7.99, MGIC Investment Corp. (NYSE:MTG) traded -1.24% lower on the day. With the last stock price close up 11.20% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. MGIC Investment Corp. has recorded a 50-day average of $8.03 and a two hundred day average of $7.19. Volume of trade was down over the average, with 2,377,053 shares of MTG changing hands under the typical 5,016,380
Zacks Investment Research has downgraded MGIC Investment Corp. (NYSE:MTG) to Hold in a statement released on 10/13/2016.
On 10/05/2016, Zacks Investment Research released a statement for MGIC Investment Corp. (NYSE:MTG) bumped up the target price from $0.00 to $9.25 that suggested an upside of 0.15%.
With a total market value of $0, MGIC Investment Corp. has price-earnings ratio of 3.30 with a one year low of $5.36 and a one year high of $10.05 .
A total of 12 equity analysts have released a ratings update on MTG. Three equity analysts rating the company a strong buy, seven equity analysts rating the company a buy, six equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $9.33.
Brief Synopsis 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 mortgage lead generation. The Company's subsidiaries include Mortgage Guaranty Insurance Corporation (MGIC) and MGIC Indemnity Corporation (MIC).
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