Zeke Capital Advisors LLC lifted its position in shares of MGIC Investment Corp. (NYSE:MTG) by 92.4% during the fourth quarter, HoldingsChannel reports. The firm owned 23,011 shares of the insurance provider’s stock after buying an additional 11,053 shares during the quarter. Zeke Capital Advisors LLC’s holdings in MGIC Investment were worth $325,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MTG. 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 worth $46,902,000 after purchasing an additional 2,751,600 shares in the last quarter. 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 worth $45,121,000 after purchasing an additional 1,079,450 shares in the last quarter. Investec Asset Management LTD bought a new position in shares of MGIC Investment during the third quarter worth $12,706,000. AXA bought a new position in shares of MGIC Investment during the third quarter worth $11,924,000. Finally, Millennium Management LLC boosted its position in shares of MGIC Investment by 23.0% during the fourth quarter. Millennium Management LLC now owns 4,621,941 shares of the insurance provider’s stock worth $65,216,000 after purchasing an additional 864,077 shares in the last quarter. 92.75% of the stock is currently owned by institutional investors.
Shares of MGIC Investment Corp. (NYSE MTG) traded down $0.03 during trading hours on Tuesday, hitting $12.22. 604,260 shares of the company were exchanged, compared to its average volume of 3,253,991. MGIC Investment Corp. has a fifty-two week low of $9.68 and a fifty-two week high of $16.21. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $4,594.98, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 1.24 and a beta of 2.27.
MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.16. MGIC Investment had a net margin of 33.37% and a return on equity of 17.36%. The business had revenue of $271.50 million for the quarter, compared to analyst estimates of $273.66 million. During the same period last year, the business posted $0.28 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. equities analysts predict that MGIC Investment Corp. will post 1.43 earnings per share for the current year.
A number of brokerages have recently weighed in on MTG. Wells Fargo reissued an “outperform” rating and set a $17.00 price target on shares of MGIC Investment in a research report on Tuesday, November 28th. ValuEngine cut shares of MGIC Investment from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 10th. Macquarie started coverage on shares of MGIC Investment in a report on Wednesday, March 14th. They set an “outperform” rating and a $17.00 price objective on the stock. Zacks Investment Research lowered shares of MGIC Investment from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Finally, Royal Bank of Canada started coverage on shares of MGIC Investment in a report on Wednesday, December 20th. They set an “outperform” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $16.44.
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MGIC Investment 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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