Why You Need MGIC Investment Corporation (MTG) On Your Watchlist

MGIC Investment Corporation (NYSE:MTG) saw an upside of 0.13% to close Monday at $15.84 after adding $0.02 on the day. The 5-day average trading volume is 2,930,200 shares of the company’s common stock. It has gained $16.15 in the past week. An average of 2,429,370 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,437,276.

MTG’s 1-month performance is 5.11% or $0.77 on its low of $14.48 reached on 09/20/21. The company’s shares have touched a 52-week low of $9.42 and high of $15.96, with the stock’s rally to the 52-week high happening on 10/11/21. YTD, MTG has achieved 26.22% or $3.29. However, the current price is down -0.75%% from the 52-week high price.

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Insider Transactions

On May 07, 158 days have gone by since the last insider trading activity for MGIC Investment Corporation (MTG). Hughes James J. (EVP-Sales&Bus. Dev-Mtg Gty Ins) most recently sold 80,051 shares at $14.39 per share on May 07. This transaction cost the insider $1,151,686.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 16.82 and a low of 2.672. MTG stock has a beta of 1.73. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.48 while the price-to-book (PB) in the most recent quarter is 1.09, with the price to cash flow ratio at 9.30.

MGIC Investment Corporation pays an annual dividend of $0.32 per share. Its dividend yield is 2.02% and the payout ratio is 11.60%. MTG’s most recent quarterly dividend payment was made on Aug. 26, when it paid $0.08 a share compared with prior rate of $0.06, up 25.0% from last year’s. The company has boosted its dividend for the last 1 consecutive years with the latest dividend increase of $0.02 reported on Friday July 30 2021.

It is projected that MGIC Investment Corporation’s next ex-dividend date will be on 11-Nov. MTG is expected to distribute $0.08 as its next dividend.

As well, the company’s long term debt to equity for the quarter ending June 29 was 0.25, while the total debt to equity was 0.25 while for the period ending June 29; MGIC Investment Corporation’s operating margin was 67.70%.

Earnings Surprise

For the quarterly period ending June 29 this year, Analysts expected MTG to announce $0.43 per share in earnings in its latest quarter, but it posted $0.44, representing a 2.30% surprise. MTG stock balance sheet for the quarter ending June 29 shows that, with total debt at $1.25 billion. Shareholders hold equity totaling $339.32 million

Technical Picture

Let’s look briefly at MGIC Investment Corporation (MTG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 71.61% to suggest the stock is trending Overbought, with historical volatility in this time period at 17.30%.

The stock’s 5-day moving average is $15.70, reflecting a +2.39% or $0.37 change from its current price. MTG is currently trading +3.94% above its 20-day SMA, +11.00% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +14.45% and +26.42% respectively.

Stochastic %K and %D was 84.97% and 88.19% and the average true range (ATR) pointed at 0.34. The RSI (14) points at 66.30%, while the 14-day stochastic is at 77.29% with the period’s ATR at 0.33. The stock’s 9-day MACD Oscillator is pointing at 0.31 and 0.45 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for MGIC Investment Corporation (NYSE: MTG), Keefe Bruyette upgraded it to an Outperform rating. They previously had a Mkt perform rating on the stock. Analysts offering their rating for MTG stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate MTG as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 7 have offered a “buy” rating.

What is MTG’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $15.00 and a high of $19.00, with their median price target at $18.00. Looking at these predictions, the average price target given by analysts is for MGIC Investment Corporation (MTG) stock is $17.39.


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