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MTG

MGIC Investment

$12.82

-0.17 (-1.31%)

06:35
04/09/18
04/09
06:35
04/09/18
06:35

MGIC announces reduced borrower-paid premium rates

MGIC Investment's principal subsidiary, Mortgage Guaranty Insurance, or MGIC, announced reduced borrower-paid premium rates that reflect the lower corporate tax rate signed into law in 2017. By incorporating the tax benefit and allowing all lenders access to these reduced premium rates, MGIC believes that borrowers and lenders will be better served in their quest for affordable and sustainable low-down-payment lending solutions. Borrower-paid mortgage insurance premium rates on the most popular premium plans have been reduced by an average of approximately 11%.The new rates are effective June 4, 2018.

MTG MGIC Investment
$12.82

-0.17 (-1.31%)

03/12/18
WELS
03/12/18
NO CHANGE
WELS
Mortgage Insurers sliding on fears about Freddie pilot, says Wells Fargo
After Dowling Research said Freddie Mac (FMCC) has introduced an alternative for securing mortgage insurance as a pilot program with Arch Capital (ACGL) that has pricing "solidly below" published mortgage insurer lender-paid singles rate cards, Wells Fargo analyst Sean Dargan noted that Essent Group (ESNT), MGIC Investment (MTG) and Radian Group (RDN) are down 8%-11% in reaction to fears that Arch will gain meaningful share in the Freddie business. While awaiting more information from both Arch and Freddie Mac, Dargan said that Essent, given its Bermuda reinsurance structure, would be better positioned to replicate the Arch model than would MGIC or Radian. Near midday, Essent is down 8%, MGIC is down 9% and Radian is down 11%.
03/13/18
DBAB
03/13/18
NO CHANGE
DBAB
Private Mortgage Insurer selloff yesterday overdone, says Deutsche Bank
Shares of Private Mortgage Insurers were down roughly 10% yesterday following news that Freddie Mac (FMCC) and private MI Arch had initiated a structure whereby a panel of reinsurers will provide the necessary credit risk enhancement for a portion of low down-payment mortgages otherwise met by traditional mortgage insurance, Deutsche Bank analyst Phil Stefano tells investors in a research note. The analyst recommends buying Essent Group (ESNT), MGIC Investment (MTG), NMI Holdings (NMIH) and Radian Group (RDN) following yesterday's weakness. Clients have relayed from reports the potential for a 10%-30% decline in Singles pricing, the analyst says. He notes this business makes up roughly 15%-20% of new business being written today. Assuming a 20% price cut on 20% of the business combined with the uncertainties underlying the new structure, Stefano would have anticipated a "muted high-single-digit reaction to the stocks." He feels the selloff yesterday in the Private Mortgage Insurers is overdone.
03/13/18
RILY
03/13/18
NO CHANGE
RILY
B. Riley FBR says buy MGIC, NMI following yesterday's weakness
B. Riley FBR analyst Randy Binner recommends buying shares of MGIC Investment (MTG) and NMI Holdings (NMIH) following yesterday's selloff on the Freddie Mac/Arch headlines. While still a proposal, the new structure would only be marginally dilutive to earnings if implemented, Binner tells investors in a research note.
03/14/18
MACQ
03/14/18
INITIATION
MACQ
Outperform
MGIC Investment initiated with an Outperform at Macquarie
Macquarie initiated MGIC Investment with an Outperform and $17 price target.

TODAY'S FREE FLY STORIES

DHI

D.R. Horton

$44.28

0.77 (1.77%)

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Size block of calls sold in D R Horton looks closing »

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Macy's

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Performance Food Group

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1.15 (3.12%)

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Macy's

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1.72 (4.29%)

PFGC

Performance Food Group

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AIV

Aimco

$43.25

0.5 (1.17%)

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A

Agilent

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1.19 (1.80%)

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Cree

$49.96

-0.32 (-0.64%)

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Cree

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Viavi

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KO

Coca-Cola

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PepsiCo

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Coca-Cola

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PepsiCo

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KDP

Keurig Dr Pepper

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X

U.S. Steel

$30.23

0.025 (0.08%)

, AKS

AK Steel

$4.20

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Periodicals
Canada near to imposing broad steel tariffs, Dow Jones says »

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X

U.S. Steel

$30.23

0.025 (0.08%)

AKS

AK Steel

$4.20

-0.06 (-1.41%)

NUE

Nucor

$63.53

0.4 (0.63%)

STLD

Steel Dynamics

$43.57

-0.1 (-0.23%)

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IGT

International Game

$20.44

-0.12 (-0.58%)

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Options
International Game call volume above normal and directionally bullish »

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CLI

Mack-Cali Realty

$19.99

0.92 (4.82%)

13:03
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13:03
Periodicals
Land & Buildings likely to push for Mack-Cali sale, Bloomberg reports »

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TSLA

Tesla

$356.33

0.29 (0.08%)

, GS

Goldman Sachs

$229.95

3.12 (1.38%)

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Periodicals
Goldman not hired officially by Tesla at time of tweet, Bloomberg reports »

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TSLA

Tesla

$356.33

0.29 (0.08%)

GS

Goldman Sachs

$229.95

3.12 (1.38%)

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DOMO

Domo

$18.38

-0.1 (-0.54%)

12:53
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Breaking Hot Stocks news story on Domo »

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WMT

Walmart

$90.91

1.25 (1.39%)

12:50
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Options
8.8K Walmart Sep 92.5 - Oct 95 call spreads bought for 29c »

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AMZN

Amazon.com

$1,916.80

21.29 (1.12%)

12:49
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U.K's ASA says Amazon Prime's one-day claim misled customers, CNBC reports »

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CCXI

ChemoCentryx

$11.12

-1.54 (-12.16%)

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AEO

American Eagle

$28.00

0.66 (2.41%)

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American Eagle call volume above normal and directionally bullish »

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GOOG

Alphabet

$1,240.12

5.02 (0.41%)

, GOOGL

Alphabet Class A

$1,255.80

7.04 (0.56%)

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Alphabet invests $375M in Obamacare startup Oscar, Bloomberg reports »

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Alphabet

$1,240.12

5.02 (0.41%)

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Alphabet Class A

$1,255.80

7.04 (0.56%)

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STXB

Spirit of Texas Bancshares

$21.48

(0.00%)

12:37
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Breaking Hot Stocks news story on Spirit of Texas Bancshares »

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EKSO

Ekso Bionics

$2.84

0.16 (5.97%)

12:35
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Ekso Bionics awarded $5M Department of Veterans Affairs contract 

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FX Action: USD-JPY »

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ATVI

Activision Blizzard

$71.54

1.02 (1.45%)

, EA

Electronic Arts

$131.76

0.47 (0.36%)

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Game On: 'Fortnite' reportedly poses malware risk on Android »

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ATVI

Activision Blizzard

$71.54

1.02 (1.45%)

EA

Electronic Arts

$131.76

0.47 (0.36%)

GOOG

Alphabet

$1,239.50

4.4 (0.36%)

GOOGL

Alphabet Class A

$1,255.19

6.43 (0.51%)

SSNLF

Samsung

$0.00

(0.00%)

TCEHY

Tencent

$0.00

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DIS

Disney

$112.93

0.82 (0.73%)

CCOEY

Capcom

$0.00

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NTDOY

Nintendo

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URBN

Urban Outfitters

$47.93

0.51 (1.08%)

12:30
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Put spreads in Urban Outfitters ahead of earnings next week »

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YUMC

Yum China

$35.81

1.59 (4.65%)

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Yum China call volume above normal and directionally bullish »

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  • 10

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ACRS

Aclaris Therapeutics

$16.86

-0.27 (-1.58%)

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Cantor consumer products analysts to hold analyst/industry conference call »

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  • 14

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CLI

Mack-Cali Realty

$19.42

0.35 (1.84%)

12:22
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Breaking Periodicals news story on Mack-Cali Realty »

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ANSS

Ansys

$172.90

1.87 (1.09%)

12:22
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12:22
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12:22
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Ansys analyst commentary  »

Ansys price target raised…

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