MANA Advisors LLC acquired a new stake in MGIC Investment Corp. (NYSE:MTG) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 16,521 shares of the insurance provider’s stock, valued at approximately $233,000.

Several other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of MGIC Investment by 1.6% in the fourth quarter. BlackRock Inc. now owns 24,706,723 shares of the insurance provider’s stock valued at $348,611,000 after purchasing an additional 397,372 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of MGIC Investment by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 13,311,911 shares of the insurance provider’s stock valued at $166,798,000 after purchasing an additional 114,080 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of MGIC Investment by 10.4% in the third quarter. Macquarie Group Ltd. now owns 4,867,921 shares of the insurance provider’s stock valued at $60,995,000 after purchasing an additional 458,528 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of MGIC Investment by 18.2% in 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 purchasing an additional 695,195 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of MGIC Investment by 0.9% in the third quarter. Janus Henderson Group PLC now owns 4,062,785 shares of the insurance provider’s stock valued at $50,907,000 after purchasing an additional 34,512 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

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Several equities analysts have commented on MTG shares. BTIG Research upped their price objective on shares of MGIC Investment from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Wells Fargo & Co reiterated a “buy” rating on shares of MGIC Investment in a report on Friday, December 8th. Royal Bank of Canada started coverage on shares of MGIC Investment in a report on Wednesday, December 20th. They issued an “outperform” rating and a $18.00 price objective on the stock. ValuEngine upgraded shares of MGIC Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Finally, B. Riley reiterated a “buy” rating and issued a $19.00 price objective on shares of MGIC Investment in a report on Thursday, January 18th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. MGIC Investment has an average rating of “Buy” and a consensus target price of $16.39.

Shares of MGIC Investment Corp. (NYSE MTG) opened at $13.32 on Wednesday. The stock has a market cap of $4,954.72, a PE ratio of 9.75, a PEG ratio of 1.33 and a beta of 2.27. MGIC Investment Corp. has a 52-week low of $9.68 and a 52-week high of $16.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.18 and a quick ratio of 0.18.

MGIC Investment (NYSE:MTG) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.16. The company had revenue of $271.50 million during the quarter, compared to analysts’ expectations of $273.66 million. MGIC Investment had a net margin of 33.37% and a return on equity of 17.36%. 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 posted $0.28 earnings per share. sell-side analysts forecast that MGIC Investment Corp. will post 1.43 EPS 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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Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

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