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MTG

MGIC Investment

$10.01

-0.165 (-1.62%)

16:50
04/26/18
04/26
16:50
04/26/18
16:50

MGIC Investment announces $200M share repurchase program

MGIC Investment announced its board of directors has authorized a share repurchase program under which the company may repurchase up to $200M of its common stock through the end of 2019.

MTG MGIC Investment
$10.01

-0.165 (-1.62%)

04/11/18
LEHM
04/11/18
NO CHANGE
Target $16
LEHM
Overweight
Barclays sees 'unique' buying opportunity after MGIC rate cut
The overreaction to MGIC Investment's (MTG) reduced borrower-paid premium rates presents a "unique buying opportunity," Barclays analyst Mark DeVries tells investors in a research note. The analyst fully expects that the rest of the industry will likely follow suit, but his updated models suggest "only a modest" earnings reduction on lower premium rate forecasts. He believes the stock's risk/rewards are "compelling once again." The analyst lowered his price target for Essent Group (ESNT) to $51 from $57, for MGIC to $16 from $18 and for Radian Group (RDN) to $28 from $31. He keeps Overweight ratings on all three names.
04/19/18
WELS
04/19/18
DOWNGRADE
Target $5
WELS
Market Perform
Essent Group downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Sean Dargan downgraded Essent Group (ESNT) to Market Perform and lowered his price target for the shares to $38 from $58. The analyst also downgraded MGIC Investment (MTG) to Market Perform and lowered his rating on the Mortgage Insurers space to Market Weight from Overweight. He keeps a Market Perform rating on Radian Group (RDN). Despite tailwinds from mortgage credit, companies in the sector seem "poised to compete away any benefit from tax reform, at the expense of shareholders," Dargan tells investors in a research note. The analyst thought mid-teen returns would be the floor on new pricing, but is now less certain that is the case. Dargan now has less confidence in future estimates.
04/19/18
WELS
04/19/18
DOWNGRADE
Target $12
WELS
Market Perform
MGIC Investment downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Sean Dargan downgraded MGIC Investment (MTG) to Market Perform and lowered his price target for the shares to $12 from $18. The analyst also downgraded Essent Group (ESNT) to Market Perform and lowered his rating on the Mortgage Insurers space to Market Weight from Overweight. He keeps a Market Perform rating on Radian Group (RDN). Despite tailwinds from mortgage credit, companies in the sector seem "poised to compete away any benefit from tax reform, at the expense of shareholders," Dargan tells investors in a research note. The analyst thought mid-teen returns would be the floor on new pricing, but is now less certain that is the case. Dargan now has less confidence in future estimates.
04/19/18
LEHM
04/19/18
NO CHANGE
Target $16
LEHM
Overweight
MGIC Investment risk/reward 'very compelling,' says Barclays
Barclays analyst Mark DeVries says he remains bullish on shares of MGIC Investment following the company's Q1 results. Wells Fargo this morning downgraded the shares to Market Perform. MGIC posted another quarter of positive credit trends, and the stock's risk/reward is "very compelling" at current levels, DeVries tells investors in a post-earnings research note. He keeps an Overweight rating on the shares with a $16 price target.

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