Nothing is Better Than MGIC Investment Corporation (MTG) stock at the moment

MGIC Investment Corporation (NYSE: MTG) stock jumped 1.89% on Friday to $14.52 against a previous-day closing price of $14.25. With 3.07 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.8 million shares. During the session, the Insurance – Specialty company that operates in wider Financial sector, reached to the highest price of $14.72 whereas the lowest price it dropped to was $14.26. The 52-week range on MTG shows that it touched its highest point at $16.84 and its lowest point at $11.38 during that stretch. It currently has a 1-year price target of $17.94. With its current market cap of 4.38 billion, MTG has annualized dividend of $0.32 while the current yield stands at 2.20%. Beta for the stock currently stands at 1.47.

Top 5 Cheap Stocks to Own Right Now

While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.

Sign up here to get your free report now. .


Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MTG was up-trending over the past week, with a rise of 4.54%, but this was up by 12.73% over a month. Three-month performance surged to 5.22% while six-month performance fell -4.28%. The stock gained 7.24% in the past year, while it has gained 0.69% so far this year. A look at the trailing 12-month EPS for MTG yields 1.96 with Next year EPS estimates of 2.12. For the next quarter, that number is 0.50. This implies an EPS growth rate of 43.40% for this year and -0.33% for next year. EPS is expected to grow by 5.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 16.60%.

Float and Shares Shorts:

At present, 315.98 million MTG shares are outstanding with a float of 304.71 million shares on hand for trading. On Jul 14, 2022, short shares totaled 21.05 million, which was 6.80% higher than short shares on Jun 14, 2022. In addition to Mr. Timothy James Mattke as the firm’s CEO & Director, Mr. Salvatore Antonino Miosi serves as its Pres & COO.

Institutional Ownership:

Through their ownership of 97.42% of MTG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 48.02% of MTG, in contrast to 47.91% held by mutual funds. Shares owned by individuals account for 10.90%. As the largest shareholder in MTG with 10.51% of the stake, The Vanguard Group, Inc. holds 32,535,078 shares worth 32,535,078. A second-largest stockholder of MTG, BlackRock Fund Advisors, holds 25,444,219 shares, controlling over 8.22% of the firm’s shares. Wellington Management Co. LLP is the third largest shareholder in MTG, holding 17,724,919 shares or 5.73% stake. With a 2.95% stake in MTG, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 9,118,999 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 2.89% of MTG stock, is the second-largest Mutual Fund holder. It holds 8,949,335 shares valued at 112.76 million. Vanguard Small Cap Index Fund holds 2.53% of the stake in MTG, owning 7,828,772 shares worth 98.64 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MTG since 9 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MTG analysts setting a high price target of $23.00 and a low target of $15.00, the average target price over the next 12 months is $17.94. Based on these targets, MTG could surge 58.4% to reach the target high and rise by 3.31% to reach the target low. Reaching the average price target will result in a growth of 23.55% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MTG will report FY 2022 earnings on 02/01/2023. Analysts have provided yearly estimates in a range of $2.55 being high and $1.93 being low. For MTG, this leads to a yearly average estimate of $2.20. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. MGIC Investment Corporation surprised analysts by $0.30 when it reported $0.81 EPS against a consensus estimate of $0.51. The surprise factor in the prior quarter was $0.11. Based on analyst estimates, the high estimate for the next quarter is $0.56 and the low estimate is $0.43. The average estimate for the next quarter is thus $0.50.

Summary of Insider Activity:

Insiders traded MTG stock several times over the past three months with 13 Buys and 0 Sells. In these transactions, 7,726 shares were bought while 0 shares were sold. The number of buy transactions has increased to 42 while that of sell transactions has risen to 27 over the past year. The total number of shares bought during that period was 153,655 while 474,634 shares were sold.

Leave a Comment

Your email address will not be published.