Teachers Retirement System of The State of Kentucky increased its position in shares of MGIC Investment Corp. (NYSE:MTG) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 119,501 shares of the insurance provider’s stock after buying an additional 4,759 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in MGIC Investment were worth $1,686,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of MGIC Investment by 125.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,190 shares of the insurance provider’s stock worth $101,000 after buying an additional 4,000 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in shares of MGIC Investment during the third quarter worth approximately $107,000. Eqis Capital Management Inc. purchased a new stake in shares of MGIC Investment during the fourth quarter worth approximately $144,000. Signition LP purchased a new position in MGIC Investment in the fourth quarter valued at approximately $156,000. Finally, BlueCrest Capital Management Ltd purchased a new position in MGIC Investment in the fourth quarter valued at approximately $164,000. Hedge funds and other institutional investors own 92.75% of the company’s stock.
Several brokerages have commented on MTG. B. Riley reiterated a “buy” rating and issued a $19.00 price target on shares of MGIC Investment in a research note on Thursday, January 18th. Wells Fargo reiterated a “buy” rating on shares of MGIC Investment in a research note on Friday, December 8th. ValuEngine upgraded shares of MGIC Investment from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada began coverage on shares of MGIC Investment in a research note on Wednesday, December 20th. They issued an “outperform” rating and a $18.00 price target on the stock. Finally, BTIG Research increased their price target on shares of MGIC Investment from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. MGIC Investment presently has an average rating of “Buy” and a consensus price target of $16.44.
Shares of MGIC Investment Corp. (MTG) opened at $12.25 on Tuesday. The firm has a market capitalization of $4,594.98, a P/E ratio of 13.03, a PEG ratio of 1.24 and a beta of 2.27. 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 quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.26.
MGIC Investment (NYSE:MTG) last posted 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. The business had revenue of $271.50 million during the quarter, compared to the consensus estimate of $273.66 million. MGIC Investment had a return on equity of 17.36% and a net margin of 33.37%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 earnings per share. sell-side analysts predict that MGIC Investment Corp. will post 1.43 EPS for the current fiscal year.
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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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