SG Americas Securities LLC Has $5 Million Holdings in MGIC Investment Corporation (NYSE:MTG)

SG Americas Securities LLC lifted its holdings in MGIC Investment Corporation (NYSE:MTG) by 1,129.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 398,679 shares of the insurance provider’s stock after purchasing an additional 366,239 shares during the period. SG Americas Securities LLC owned about 0.11% of MGIC Investment worth $4,995,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Fox Run Management L.L.C. purchased a new position in shares of MGIC Investment in the second quarter worth $116,000. Appleton Group LLC purchased a new position in shares of MGIC Investment in the second quarter worth $119,000. Advisors Asset Management Inc. purchased a new position in shares of MGIC Investment in the second quarter worth $121,000. Sawgrass Asset Management LLC acquired a new stake in shares of MGIC Investment in the second quarter worth $123,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of MGIC Investment in the second quarter worth $132,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Shares of MGIC Investment Corporation (MTG) traded up $0.37 on Monday, hitting $15.35. 3,924,271 shares of the company’s stock were exchanged, compared to its average volume of 3,371,680. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $5,551.09, a PE ratio of 12.28, a PEG ratio of 1.46 and a beta of 2.26. MGIC Investment Corporation has a 1-year low of $9.25 and a 1-year high of $15.40.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. MGIC Investment had a net margin of 41.08% and a return on equity of 16.41%. The firm had revenue of $270.30 million during the quarter, compared to analysts’ expectations of $267.85 million. During the same quarter in the previous year, the business posted $0.14 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. equities analysts forecast that MGIC Investment Corporation will post 1.21 earnings per share for the current year.

A number of analysts have recently weighed in on MTG shares. Zacks Investment Research upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Monday, October 23rd. Bank of America raised their price target on shares of MGIC Investment from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, October 20th. MKM Partners raised their price target on shares of MGIC Investment to $16.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. FBR & Co restated a “buy” rating on shares of MGIC Investment in a research report on Wednesday, October 18th. Finally, BTIG Research reaffirmed a “buy” rating and set a $14.00 price objective on shares of MGIC Investment in a report on Saturday, October 14th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.34.

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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.

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

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