As of Thursday close, MGIC Investment Corporation’s (NYSE:MTG) stock was down -$0.25, moving down -1.45 percent to $16.95. The average number of shares traded per day over the past five days has been 2,436,100 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.27 fall in that time frame. In the last twenty days, the average volume was 1,708,925, while in the previous 50 days, it was 1,818,800.
Since last month, MTG stock rose 0.59%. Shares of the company fell to $16.83 on 08/23/23, the lowest level in the past month. A 52-week high of $18.25 was reached on 08/10/23 after having rallying from a 52-week low of $12.13. Since the beginning of this year, MTG’s stock price has risen by 30.38% or $3.95, and marked a new high 35 times. However, the stock has declined by -7.12% since its 52-week high.
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MTG stock investors should be aware that MGIC Investment Corporation (MTG) stock had its last reported insider trading activity 207 days ago on Feb 27. Poliner Gary A., the Director of the company, disposed of 8,296 shares for $13.92 on Feb 27. It resulted in a $115,480 divestment by the insider.
Valuation Metrics
Right now, MGIC Investment Corporation (MTG) has a P/E ratio of about 6.42. The stock’s beta is 1.30. Besides these, the trailing price-to-sales (P/S) ratio of 4.11, the price-to-book (PB) ratio of 1.00, and the price-to-cash flow ratio of 7.41 may also be considered.
The latest dividend of $0.1150 per share was paid out, which is 15.0% more than last year’s $0.10. On Thursday July 27 2023, a $0.0150 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.14, and the total debt-to-equity ratio was 0.14. In the year ended June 29, operating margins totaled 88.90%.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 17.20%. Return on equity (ROE) for the past 12 months was 16.70%.
In MGIC Investment Corporation’s quarter-end financial report for June 29, it reported total debt of $642.46 million. MTG’s revenue fell -0.84% to $283.97 million during the quarter, while net income inched up to $290.68 million. While analysts expected MGIC Investment Corporation to report $0.53 quarterly earnings, the actual figure was $0.68 per share, beating the consensus estimate by 28.30%. The value of shareholders’ equity is $282.32 million.
Technical Picture
This quick technical analysis looks at MGIC Investment Corporation’s (MTG) price momentum. With a historical volatility rate of 16.84%, the RSI 9-day stood at 37.65% on 21 September.
With respect to its five-day moving average, the current MGIC Investment Corporation price is down by -1.57% percent or -$0.27. At present, MTG shares trade -0.24% below its 20-day simple moving average and +13.99% percent above its 100-day simple moving average. However, the stock is currently trading approximately +5.41% above its SMA50 and +27.35% above its SMA200.
Stochastic coefficient K was 36.24% and Stochastic coefficient D was 37.27%, while ATR was 0.28. Given the Stochastic reading of 0.00% for the 14-day period, the RSI (14) reading has been calculated as 42.84%. As of today, the MACD Oscillator reading stands at -0.10, while the 14-day reading stands at -0.15.
Analyst Ratings
MGIC Investment Corporation downgraded its rating on MGIC Investment Corporation (NYSE: MTG) to a Sector perform in a note to investors on July 06, 2023. The analysts firm previously had an Outperform rating on the stock.MGIC Investment Corporation (MTG) has been rated Overweight by analysts. According to 0 brokerage firms, MTG is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate MGIC Investment Corporation stock as buy, with 5 recommending it as overweight.
With a median target price of $19.50, the current consensus forecast for the stock is $18.00 – $21.00. Based on these forecasts, analysts predict MGIC Investment Corporation (MTG) will achieve an average price target of $19.33.
