Bailard Inc. purchased a new position in shares of MGIC Investment Corp. (NYSE:MTG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 86,000 shares of the insurance provider’s stock, valued at approximately $1,213,000.
Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in MGIC Investment by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 13,311,911 shares of the insurance provider’s stock worth $166,798,000 after purchasing an additional 114,080 shares during the last quarter. First Midwest Bank Trust Division lifted its holdings in MGIC Investment by 60.7% during the 3rd quarter. First Midwest Bank Trust Division now owns 87,474 shares of the insurance provider’s stock worth $1,096,000 after purchasing an additional 33,026 shares during the last quarter. Copper Rock Capital Partners LLC lifted its holdings in MGIC Investment by 3.6% during the 4th quarter. Copper Rock Capital Partners LLC now owns 2,927,105 shares of the insurance provider’s stock worth $42,180,000 after purchasing an additional 101,603 shares during the last quarter. Royal Bank of Canada lifted its holdings in MGIC Investment by 92.3% during the 2nd quarter. Royal Bank of Canada now owns 40,756 shares of the insurance provider’s stock worth $457,000 after purchasing an additional 19,567 shares during the last quarter. Finally, Investec Asset Management LTD acquired a new stake in MGIC Investment during the 3rd quarter worth approximately $12,706,000. 92.26% of the stock is owned by institutional investors and hedge funds.
MGIC Investment Corp. (NYSE MTG) opened at $14.39 on Friday. The firm has a market capitalization of $5,310.00, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.46 and a beta of 2.28. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. MGIC Investment Corp. has a fifty-two week low of $9.68 and a fifty-two week high of $16.21.
MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.16. MGIC Investment had a return on equity of 3.49% and a net margin of 10.06%. The firm had revenue of $271.50 million during the quarter, compared to analysts’ expectations of $273.66 million. During the same period in the previous year, the firm earned $0.28 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. equities research analysts anticipate that MGIC Investment Corp. will post 1.44 earnings per share for the current fiscal year.
Several analysts recently weighed in on MTG shares. Wells Fargo & Co reissued a “buy” rating on shares of MGIC Investment in a report on Thursday, February 8th. BTIG Research lifted their price objective on MGIC Investment from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. B. Riley reaffirmed a “buy” rating and issued a $19.00 price objective on shares of MGIC Investment in a report on Thursday, January 18th. ValuEngine cut MGIC Investment from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 10th. Finally, Deutsche Bank raised MGIC Investment from a “hold” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $18.00 in a report on Monday, January 8th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.39.
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About MGIC Investment
MGIC Investment Corporation is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. The Company provides mortgage insurance to lenders throughout the United States and to government-sponsored entities to protect against loss from defaults on low down payment residential mortgage loans.
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