MGIC Investment Target of Unusually High Options Trading (MTG)

MGIC Investment Corp. (NYSE:MTG) was the target of unusually large options trading on Friday. Investors acquired 2,105 call options on the stock. This is an increase of 1,050% compared to the typical volume of 183 call options.

MGIC Investment (NYSE:MTG) opened at $14.11 on Monday. MGIC Investment has a 52 week low of $9.68 and a 52 week high of $15.64. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $5,340.00, a price-to-earnings ratio of 12.38, a P/E/G ratio of 1.37 and a beta of 2.25.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.06. MGIC Investment had a return on equity of 16.41% and a net margin of 41.08%. The firm had revenue of $270.30 million during the quarter, compared to the consensus estimate of $267.85 million. During the same period in the prior year, the company earned $0.14 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. equities analysts predict that MGIC Investment will post 1.21 earnings per share for the current year.

Large investors have recently modified their holdings of the business. Evanston Investments Inc. dba Evanston Advisors grew its holdings in MGIC Investment by 3.4% in the 2nd quarter. Evanston Investments Inc. dba Evanston Advisors now owns 285,807 shares of the insurance provider’s stock valued at $3,201,000 after buying an additional 9,521 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in MGIC Investment by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 13,311,911 shares of the insurance provider’s stock valued at $166,798,000 after buying an additional 114,080 shares in the last quarter. Prudential Financial Inc. grew its holdings in MGIC Investment by 40.9% in the 2nd quarter. Prudential Financial Inc. now owns 2,426,760 shares of the insurance provider’s stock valued at $27,180,000 after buying an additional 704,210 shares in the last quarter. First Midwest Bank Trust Division grew its holdings in MGIC Investment by 60.7% in the 3rd quarter. First Midwest Bank Trust Division now owns 87,474 shares of the insurance provider’s stock valued at $1,096,000 after buying an additional 33,026 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in MGIC Investment by 92.3% in the 2nd quarter. Royal Bank of Canada now owns 40,756 shares of the insurance provider’s stock valued at $457,000 after buying an additional 19,567 shares in the last quarter. Institutional investors own 91.11% of the company’s stock.

Several research analysts have recently weighed in on the company. Wells Fargo & Co reaffirmed an “outperform” rating and set a $17.00 target price on shares of MGIC Investment in a research note on Tuesday, November 28th. Barclays upped their target price on MGIC Investment from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, October 19th. Zacks Investment Research raised MGIC Investment from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Monday, October 23rd. FBR & Co reissued a “buy” rating on shares of MGIC Investment in a research note on Wednesday, October 18th. Finally, Compass Point reissued a “buy” rating and issued a $15.25 price objective (up from $13.00) on shares of MGIC Investment in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.98.

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MGIC Investment Company Profile

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.

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