MGIC Investment Co. (NYSE:MTG) Holdings Lowered by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp reduced its holdings in MGIC Investment Co. (NYSE:MTG) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,350 shares of the insurance provider’s stock after selling 1,750 shares during the period. Alaska Permanent Fund Corp owned about 0.05% of MGIC Investment worth $2,804,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vest Financial LLC lifted its stake in MGIC Investment by 29.4% in the 4th quarter. Vest Financial LLC now owns 690,877 shares of the insurance provider’s stock worth $13,327,000 after acquiring an additional 157,036 shares in the last quarter. NewEdge Wealth LLC lifted its stake in MGIC Investment by 8.8% in the 4th quarter. NewEdge Wealth LLC now owns 1,444,931 shares of the insurance provider’s stock worth $27,873,000 after acquiring an additional 117,301 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in MGIC Investment by 335.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 103,129 shares of the insurance provider’s stock worth $1,989,000 after acquiring an additional 79,457 shares in the last quarter. Invesco Ltd. lifted its stake in MGIC Investment by 47.3% in the 3rd quarter. Invesco Ltd. now owns 3,174,560 shares of the insurance provider’s stock worth $52,983,000 after acquiring an additional 1,019,759 shares in the last quarter. Finally, LSV Asset Management lifted its stake in MGIC Investment by 8.5% in the 3rd quarter. LSV Asset Management now owns 10,427,565 shares of the insurance provider’s stock worth $174,036,000 after acquiring an additional 820,182 shares in the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Stock Up 0.2 %

Shares of NYSE MTG traded up $0.05 during mid-day trading on Wednesday, reaching $20.35. 1,929,773 shares of the company traded hands, compared to its average volume of 2,045,239. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $5.49 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 1.65 and a beta of 1.24. The company’s fifty day moving average is $20.39 and its two-hundred day moving average is $19.09. MGIC Investment Co. has a fifty-two week low of $13.97 and a fifty-two week high of $22.43.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $284.72 million for the quarter, compared to analyst estimates of $302.96 million. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. On average, analysts expect that MGIC Investment Co. will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MTG shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $24.00 price objective (up from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Royal Bank of Canada upped their target price on MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, Roth Mkm upped their target price on MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.08.

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.