Commonwealth Bank of Australia grew its stake in shares of MGIC Investment Corp. (NYSE:MTG) by 12.9% during the 4th quarter, HoldingsChannel reports. The fund owned 63,900 shares of the insurance provider’s stock after acquiring an additional 7,300 shares during the period. Commonwealth Bank of Australia’s holdings in MGIC Investment were worth $668,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hsbc Holdings PLC lifted its position in MGIC Investment by 12.1% during the 4th quarter. Hsbc Holdings PLC now owns 629,394 shares of the insurance provider’s stock worth $6,583,000 after acquiring an additional 67,826 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in MGIC Investment during the 4th quarter worth $826,000. NFC Investments LLC lifted its position in MGIC Investment by 1.4% during the 4th quarter. NFC Investments LLC now owns 2,737,370 shares of the insurance provider’s stock worth $28,633,000 after acquiring an additional 37,550 shares during the last quarter. Bayview Asset Management LLC acquired a new position in MGIC Investment during the 4th quarter worth $78,592,000. Finally, Parametrica Management Ltd acquired a new position in MGIC Investment during the 4th quarter worth $144,000. Institutional investors and hedge funds own 91.45% of the company’s stock.

MTG has been the subject of a number of research analyst reports. ValuEngine lowered shares of MGIC Investment from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.00 price objective on shares of MGIC Investment in a research report on Tuesday, December 11th. Finally, Barclays set a $14.00 price objective on shares of MGIC Investment and gave the company a “buy” rating in a research report on Friday, December 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $15.95.

Shares of MTG opened at $13.11 on Friday. The stock has a market cap of $4.66 billion, a PE ratio of 7.37, a P/E/G ratio of 1.66 and a beta of 1.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27. MGIC Investment Corp. has a 52 week low of $9.41 and a 52 week high of $13.44.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Thursday, January 17th. The insurance provider reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. The business had revenue of $285.60 million during the quarter, compared to analyst estimates of $286.42 million. MGIC Investment had a net margin of 59.63% and a return on equity of 19.64%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. Equities analysts predict that MGIC Investment Corp. will post 1.58 EPS for the current year.

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MGIC Investment Company Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the United States. 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.

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Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

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