Nicholas Investment Partners LP increased its stake in MGIC Investment Corp. (NYSE:MTG) by 28.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 998,430 shares of the insurance provider’s stock after acquiring an additional 219,186 shares during the period. MGIC Investment makes up approximately 0.9% of Nicholas Investment Partners LP’s investment portfolio, making the stock its 10th biggest position. Nicholas Investment Partners LP owned 0.27% of MGIC Investment worth $14,088,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. APG Asset Management N.V. boosted its position in shares of MGIC Investment by 221.9% during the fourth quarter. APG Asset Management N.V. now owns 3,991,500 shares of the insurance provider’s stock valued at $46,902,000 after buying an additional 2,751,600 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of MGIC Investment by 51.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 3,197,825 shares of the insurance provider’s stock valued at $45,121,000 after buying an additional 1,079,450 shares during the period. Investec Asset Management LTD purchased a new position in shares of MGIC Investment during the third quarter valued at approximately $12,706,000. AXA purchased a new position in shares of MGIC Investment during the third quarter valued at approximately $11,924,000. Finally, Victory Capital Management Inc. boosted its position in shares of MGIC Investment by 18.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,516,551 shares of the insurance provider’s stock valued at $63,729,000 after buying an additional 695,195 shares during the period. Institutional investors own 92.90% of the company’s stock.
Several research analysts have issued reports on the company. Macquarie assumed coverage on MGIC Investment in a research report on Wednesday. They set an “outperform” rating for the company. Zacks Investment Research lowered MGIC Investment from a “buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Co restated a “buy” rating on shares of MGIC Investment in a research report on Thursday, March 8th. ValuEngine upgraded MGIC Investment from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Finally, B. Riley restated a “buy” rating and set a $19.00 target price on shares of MGIC Investment in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $16.39.
Shares of MGIC Investment Corp. (NYSE MTG) traded down $0.54 during midday trading on Wednesday, hitting $12.78. The company had a trading volume of 6,155,101 shares, compared to its average volume of 3,120,000. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $4,740.00, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.33 and a beta of 2.27. MGIC Investment Corp. has a 12-month low of $9.68 and a 12-month high of $16.21.
MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.16. The firm had revenue of $271.50 million during the quarter, compared to analyst estimates of $273.66 million. MGIC Investment had a return on equity of 17.36% and a net margin of 33.37%. MGIC Investment’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 earnings per share. equities research analysts anticipate that MGIC Investment Corp. will post 1.43 earnings per share for the current year.
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MGIC Investment Company Profile
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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