MGIC Investment

MTG · NYSE

$28.17+$0.45 (+1.62%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $27.72

MTG analyst rating

HoldConsensus of 4 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold4
Underperform0
Sell0

12-month price target · 7 analysts

Average $29.79 (+5.8% upside)

Low: $19.43
Now: $28.17
High: $36.75

Upgrades and downgrades

The latest rating actions, newest first

MTG analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 5, 2026	Maintains	Equal-Weight	$28.00 → $29.00	30%
RBC Capital	Jul 31, 2026	Maintains	Sector Perform	$28.00 → $32.00	44%
Keefe, Bruyette & Woods	Jul 31, 2026	Maintains	Market Perform	$29.00 → $30.00	53%
RBC Capital	May 22, 2026	Initiates	Sector Perform	$28.00	44%
Barclays	May 1, 2026	Maintains	Equal-Weight	$29.00 → $28.00	30%
Keefe, Bruyette & Woods	Apr 10, 2026	Maintains	Market Perform	$28.00 → $29.00	53%
Barclays	Apr 6, 2026	Maintains	Equal-Weight	$28.00 → $29.00	30%
UBS	Mar 12, 2026	Maintains	Neutral	$29.50 → $28.00	38%
Barclays	Feb 4, 2026	Maintains	Equal-Weight	$30.00 → $28.00	30%
Barclays	Jan 6, 2026	Maintains	Equal-Weight	$28.00 → $30.00	30%

The case for and against

Updated Nov 29, 2024

Bull case

MGIC Investment Corp experienced a significant increase in book value per share, rising 5.6% sequentially in Q3/24 to reach $20.66, highlighting the company's strengthening financial position. Additionally, the firm achieved a notable 17.8% year-over-year increase in new insurance written, amounting to $17.2 billion, indicating robust demand for its mortgage insurance products despite a slight uptick in the default ratio. Furthermore, the insurance in force grew by 0.4% sequentially to $292.8 billion, showcasing MGIC's continued market presence and growth potential in the mortgage insurance sector.

Bear case

MGIC Investment Corp's new insurance written declined by 15.5% year-over-year, resulting in a marginal decrease in insurance-in-force to $293.5 billion, indicating challenges in maintaining market share and demand. Additionally, earned premium growth fell by 7.2%, while the premium yield decreased from 32.9 basis points in Q3 to 30.8 basis points in Q4, reflecting pressure on profitability in a competitive environment. The company's guidance for FY ’24 indicates a reduction in operating expenses, yet it may not sufficiently offset the declining premium income and overall financial performance trends.

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