
MGIC Investment (MTG) Stock Forecast & Price Target
MGIC Investment (MTG) Analyst Ratings
Bulls say
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.
Bears say
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.
This aggregate rating is based on analysts' research of MGIC Investment and is not a guaranteed prediction by Public.com or investment advice.
MGIC Investment (MTG) Analyst Forecast & Price Prediction
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