August 07, 2013 at 12:00 PM EDT
Wall Street Fundamentals Releases New In-Depth Stock Reports on AIG, GNW, MTG and RDN
Mortgage insurers have benefited from a steadily improving housing market and a strengthening U.S. economy. On Tuesday, credit reporting agency TransUnion reported the mortgage delinquency rate, mortgages that are behind two months or more, fell to 4.09 percent in the second quarter, down from 5.49 percent a year ago and 4.56 in the first quarter. "So as prices come up, more and more of those people come off the cusp and are actually able to take advantage of those low rates," said Tim Martin, TransUnion's group vice president of U.S. housing. Here is how some insurers reacted Tuesday:
American International Group Inc. (NYSE: AIG) shares traded in the range of $48.04 to $48.65 Tuesday before settling to close at $48.06, a decrease of 1.05 percent. The stock appears to be facing some resistance at $49.77 with some support at the $47.70 and $46.43 levels. Shares of American International Group have gained approximately 36.0 percent year-to-date.
More information on American International and access to the free equity report can be found at:
Genworth Financial Inc. (NYSE: GNW) shares traded in the range of $12.68 to $13.05 Tuesday before settling to close at $12.85, a decrease of 1.53. The stock appears to be facing resistance at the $13.12 and $13.74 levels with some support at $12.04. Shares of Genworth Financial have gained approximately 70.0 percent year-to-date.
More information on Genworth Financial and access to the free equity report can be found at:
MGIC Investment Corp. (NYSE: MTG) shares traded in the range of $7.51 to $8.02 Tuesday before settling to close at $7.71, a decrease of 3.87 percent. The stock appears to be facing resistance at the $7.84 and $8.23 levels with some support at $7.09. Shares of MGIC Investment have gained approximately 190.0 percent year-to-date.
More information on MGIC Investment and access to the free equity report can be found at:
Radian Group Inc. (NYSE: RDN) shares traded in the range of $13.93 to $14.52 Tuesday before settling to close at $14.21, a decrease of 2.34 percent. The stock appears to be facing some resistance at the $14.26 and $14.96 levels with some support at $13.60. Shares of Radian Group have gained over 130.0 percent year-to-date.
More information on Radian Group and access to the free equity report can be found at:
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Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
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