MGIC Investment Co. (NYSE:MTG) Shares Bought by Vident Advisory LLC

Vident Advisory LLC raised its stake in shares of MGIC Investment Co. (NYSE:MTG) by 21.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 212,660 shares of the insurance provider’s stock after buying an additional 37,030 shares during the period. Vident Advisory LLC’s holdings in MGIC Investment were worth $4,755,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTG. GAMMA Investing LLC purchased a new position in MGIC Investment during the 4th quarter worth approximately $30,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of MGIC Investment in the fourth quarter worth approximately $31,000. Quarry LP increased its stake in MGIC Investment by 244.4% in the 4th quarter. Quarry LP now owns 1,977 shares of the insurance provider’s stock valued at $38,000 after buying an additional 1,403 shares during the period. CWM LLC lifted its position in MGIC Investment by 249.1% in the 1st quarter. CWM LLC now owns 2,175 shares of the insurance provider’s stock worth $49,000 after buying an additional 1,552 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of MGIC Investment by 49.2% during the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock valued at $50,000 after buying an additional 849 shares during the period. 95.58% of the stock is currently owned by institutional investors.

MGIC Investment Stock Performance

MTG stock traded up $0.20 on Friday, reaching $24.63. 528,555 shares of the company were exchanged, compared to its average volume of 1,871,955. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $6.57 billion, a PE ratio of 9.40, a PEG ratio of 7.87 and a beta of 1.28. The stock’s fifty day moving average price is $21.57 and its 200 day moving average price is $20.68. MGIC Investment Co. has a 12 month low of $16.30 and a 12 month high of $24.77.

MGIC Investment (NYSE:MTG) last released its earnings results on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.05. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. The business had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $301.62 million. During the same quarter last year, the company earned $0.54 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. On average, research analysts anticipate that MGIC Investment Co. will post 2.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Keefe, Bruyette & Woods upgraded MGIC Investment from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $24.00 to $25.00 in a research note on Monday, June 3rd. Barclays increased their price target on MGIC Investment from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Finally, UBS Group boosted their price objective on shares of MGIC Investment from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.17.

MGIC Investment Company Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.