Thrivent Financial For Lutherans Sells 79,506 Shares of MGIC Investment Corp. (MTG)

Thrivent Financial For Lutherans reduced its position in MGIC Investment Corp. (NYSE:MTG) by 16.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 400,484 shares of the insurance provider’s stock after selling 79,506 shares during the quarter. Thrivent Financial For Lutherans owned about 0.11% of MGIC Investment worth $5,651,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. First Mercantile Trust Co. increased its stake in MGIC Investment by 6.4% in the 4th quarter. First Mercantile Trust Co. now owns 59,203 shares of the insurance provider’s stock valued at $836,000 after buying an additional 3,540 shares during the period. Nisa Investment Advisors LLC increased its stake 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 period. Teachers Retirement System of The State of Kentucky increased its stake in MGIC Investment by 3.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 114,742 shares of the insurance provider’s stock valued at $1,438,000 after buying an additional 4,229 shares during the period. Advisors Capital Management LLC increased its stake in MGIC Investment by 1.6% in the 4th quarter. Advisors Capital Management LLC now owns 281,159 shares of the insurance provider’s stock valued at $3,967,000 after buying an additional 4,323 shares during the period. Finally, Pacer Advisors Inc. increased its stake in MGIC Investment by 11.6% in the 3rd quarter. Pacer Advisors Inc. now owns 57,499 shares of the insurance provider’s stock valued at $720,000 after buying an additional 5,975 shares during the period. 92.75% of the stock is currently owned by institutional investors.

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Shares of MGIC Investment stock traded down $0.17 on Friday, hitting $12.82. The company’s stock had a trading volume of 2,144,777 shares, compared to its average volume of 5,367,273. MGIC Investment Corp. has a 52-week low of $9.95 and a 52-week high of $16.21. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $4,817.50, a PE ratio of 9.43, a P/E/G ratio of 1.30 and a beta of 1.95.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.27 by $0.16. MGIC Investment had a net margin of 33.37% and a return on equity of 17.36%. The business had revenue of $271.50 million for the quarter, compared to analyst estimates of $273.66 million. During the same period in the previous year, the firm earned $0.28 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. research analysts expect that MGIC Investment Corp. will post 1.43 EPS for the current fiscal year.

Several brokerages have issued reports on MTG. ValuEngine cut shares of MGIC Investment from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 10th. Wells Fargo reaffirmed a “buy” rating on shares of MGIC Investment in a research note on Thursday, February 8th. Zacks Investment Research cut shares of MGIC Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, March 20th. Macquarie began coverage on shares of MGIC Investment in a research note on Wednesday, March 14th. They set an “outperform” rating and a $17.00 price target on the stock. Finally, Royal Bank of Canada began coverage on shares of MGIC Investment in a research note on Wednesday, December 20th. They set an “outperform” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $16.44.

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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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