Piper Jaffray Reiterates Overweight Rating On MGIC Investment

According to Piper Jaffray, MGIC Investment (NYSE: MTG) Overweight rating is reiterated.

Piper Jaffray said that it reiterates the Overweight rating on shares of MGIC Investment following an examination of trends within the mortgage insurers in-force portfolio. “In particular, risk-in-default continues to descend despite a moratorium on paids, while reserves remain at extreme levels from a historical perspective. Meanwhile, we believe management actions of acquiring shares sends a positive telling message to the investor community. We continue to recommend investors accumulate shares.”

MGIC Investment closed ysterday at $8.35.

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