5 Best Robinhood Stocks Under $20

4. MGIC Investment Corporation (NYSE:MTG)

Number of Hedge Fund Holders: 33

MGIC Investment Corporation (NYSE:MTG) is a Milwaukee, Wisconsin-based parent company of Mortgage Guaranty Insurance Corporation (MGIC). The subsidiary is responsible for providing products and services to protect mortgage investors from credit losses.

MGIC Investment Corporation (NYSE:MTG) posted its Q3 2022 results following the closing bell on November 2. The company posted an annualized return on equity of 21.8%. Furthermore, the adjusted EPS of 86 cents was 33 cents higher than the analysts’ forecast of 53 cents. MGIC Investment Corporation’s (NYSE:MTG) annual forward dividend yield stands at 3.96% as of November 21.

In a research note issued to investors on October 13, Mark DeVries at Barclays gave MGIC Investment Corporation (NYSE:MTG) stock a target price of $16 and maintained an Overweight rating on the stock. The analyst noted that the fundamentals of the company are strong, making MGIC Investment Corporation (NYSE:MTG) one of the best Robinhood stocks to hold.

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