Ramsey Quantitative Systems lessened its position in MGIC Investment Corp. (NYSE:MTG) by 14.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 23,874 shares of the insurance provider’s stock after selling 4,146 shares during the quarter. Ramsey Quantitative Systems’ holdings in MGIC Investment were worth $337,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in MGIC Investment by 125.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,190 shares of the insurance provider’s stock valued at $101,000 after buying an additional 4,000 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in MGIC Investment in the 3rd quarter valued at approximately $107,000. Eqis Capital Management Inc. acquired a new stake in MGIC Investment in the 4th quarter valued at approximately $144,000. Signition LP acquired a new stake in MGIC Investment in the 4th quarter valued at approximately $156,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in MGIC Investment in the 2nd quarter valued at approximately $132,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.
MTG has been the topic of a number of recent research reports. Wells Fargo & Co reissued a “buy” rating on shares of MGIC Investment in a research report on Thursday, February 8th. B. Riley reissued a “buy” rating and issued a $19.00 target price on shares of MGIC Investment in a research report on Thursday, January 18th. ValuEngine lowered MGIC Investment from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 10th. Deutsche Bank raised MGIC Investment from a “hold” rating to a “buy” rating and lifted their target price for the company from $15.00 to $18.00 in a research report on Monday, January 8th. Finally, BTIG Research boosted their price target on MGIC Investment from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. MGIC Investment has an average rating of “Buy” and an average target price of $16.39.
MGIC Investment Corp. (NYSE MTG) opened at $14.33 on Thursday. The firm has a market capitalization of $5,269.46, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 1.41 and a beta of 2.28. MGIC Investment Corp. has a 1 year low of $9.68 and a 1 year high of $16.21. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27.
MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.16. The firm had revenue of $271.50 million for the quarter, compared to analyst estimates of $273.66 million. MGIC Investment had a return on equity of 17.70% and a net margin of 33.37%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 EPS. sell-side analysts forecast that MGIC Investment Corp. will post 1.44 earnings per share for the current fiscal 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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