MGIC Investment Corporation (MTG) : The highest short term price target forecast on MGIC Investment Corporation (MTG) is $10 and the lowest target price is $9. A total of 4 equity analysts are currently covering the company. The average price of all the analysts is $9.25 with a standard deviation of $0.5.
MGIC Investment Corporation (MTG) : 3 brokerage houses believe that MGIC Investment Corporation (MTG) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 2 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on MGIC Investment Corporation (MTG). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 6 Wall Street Analysts endorse the stock as a Buy with a rating of 1.83.
Also, Compass Point upgrades their rating on the shares of MGIC Investment Corporation (NYSE:MTG). The current rating of the shares is Buy. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on July 20, 2016.
MGIC Investment Corporation (NYSE:MTG): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.10 and $7.98 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.11, notching a gain of 0.25% for the day. The total traded volume was 5,278,622 . The stock had closed at $8.09 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.