Breton Hill Capital Ltd. purchased a new stake in shares of MGIC Investment Corporation (NYSE:MTG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,795 shares of the insurance provider’s stock, valued at approximately $586,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTG. PNC Financial Services Group Inc. grew its stake in shares of MGIC Investment Corporation by 149.2% during the first quarter. PNC Financial Services Group Inc. now owns 22,780 shares of the insurance provider’s stock valued at $230,000 after purchasing an additional 13,640 shares during the last quarter. Legal & General Group Plc boosted its stake in MGIC Investment Corporation by 17.0% in the first quarter. Legal & General Group Plc now owns 131,182 shares of the insurance provider’s stock valued at $1,324,000 after acquiring an additional 19,066 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in MGIC Investment Corporation by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,028,119 shares of the insurance provider’s stock valued at $30,673,000 after acquiring an additional 14,989 shares during the last quarter. Fox Run Management L.L.C. bought a new position in MGIC Investment Corporation in the second quarter valued at approximately $116,000. Finally, James Investment Research Inc. boosted its stake in MGIC Investment Corporation by 304.4% in the second quarter. James Investment Research Inc. now owns 164,289 shares of the insurance provider’s stock valued at $1,840,000 after acquiring an additional 123,667 shares during the last quarter. 90.87% of the stock is currently owned by institutional investors and hedge funds.
MGIC Investment Corporation (NYSE:MTG) traded down $0.02 on Friday, reaching $13.40. 1,873,800 shares of the company’s stock traded hands, compared to its average volume of 3,310,818. The company has a current ratio of 0.27, a quick ratio of 0.18 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4,965.60, a price-to-earnings ratio of 10.98, a PEG ratio of 2.22 and a beta of 2.28. MGIC Investment Corporation has a 12 month low of $8.45 and a 12 month high of $14.50.
MGIC Investment Corporation (NYSE:MTG) last posted its earnings results on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. The company had revenue of $270.30 million for the quarter, compared to analyst estimates of $267.85 million. MGIC Investment Corporation had a net margin of 41.08% and a return on equity of 16.41%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. research analysts forecast that MGIC Investment Corporation will post 1.21 earnings per share for the current fiscal year.
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A number of equities analysts have issued reports on the stock. BTIG Research reaffirmed a “buy” rating and issued a $14.00 price objective (up from $12.00) on shares of MGIC Investment Corporation in a research note on Saturday, July 22nd. B. Riley reaffirmed a “buy” rating on shares of MGIC Investment Corporation in a research note on Monday, November 6th. BidaskClub raised shares of MGIC Investment Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Barclays PLC raised their price objective on shares of MGIC Investment Corporation from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, October 19th. Finally, FBR & Co reaffirmed a “buy” rating on shares of MGIC Investment Corporation in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $14.08.
About MGIC Investment Corporation
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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