MGIC Investment Corporation (MTG) : The consensus on MGIC Investment Corporation (MTG) based on 6 analyst recommendation on the company stock is 1.83, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 3 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.
MGIC Investment Corporation (MTG) has been rated by 4 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $10 and the lowest price target forecast is $9. The average forecast of all the analysts is $9.25 and the expected standard deviation is $0.5.
For the current week, the company shares have a recommendation consensus of Buy. Also, Equity Analysts at the Brokerage Firm, Compass Point, upgrades their rating on the shares of MGIC Investment Corporation (NYSE:MTG). Compass Point has a Buy rating on the shares. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on July 20, 2016.
MGIC Investment Corporation (NYSE:MTG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.14 and $7.14 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $7.43. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.36, notching a gain of 3.23% for the day. The total traded volume was 6,053,710 . The stock had closed at $7.13 on the previous day.
MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries, the Company provides private mortgage insurance and ancillary services. The Companys subsidiaries include Mortgage Guaranty Insurance Corporation (MGIC) and MGIC Indemnity Corporation (MIC). 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, it also provides various services for the mortgage finance industry, such as contract underwriting and portfolio analysis and retention.