UBS Asset Management Americas Inc. reduced its position in shares of MGIC Investment Corp. (NYSE:MTG) by 10.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,873 shares of the insurance provider’s stock after selling 23,493 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.06% of MGIC Investment worth $2,990,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in MGIC Investment by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 13,311,911 shares of the insurance provider’s stock valued at $166,798,000 after purchasing an additional 114,080 shares in the last quarter. APG Asset Management N.V. raised its position in MGIC Investment by 221.9% during the fourth quarter. APG Asset Management N.V. now owns 3,991,500 shares of the insurance provider’s stock valued at $46,902,000 after purchasing an additional 2,751,600 shares in the last quarter. Bailard Inc. acquired a new position in MGIC Investment during the fourth quarter valued at approximately $1,213,000. Copper Rock Capital Partners LLC raised its position in MGIC Investment by 3.6% during the fourth quarter. Copper Rock Capital Partners LLC now owns 2,927,105 shares of the insurance provider’s stock valued at $42,180,000 after purchasing an additional 101,603 shares in the last quarter. Finally, Investec Asset Management LTD acquired a new position in MGIC Investment during the third quarter valued at approximately $12,706,000. Institutional investors and hedge funds own 92.75% of the company’s stock.
Shares of MGIC Investment stock traded down $0.17 during trading 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. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.26. MGIC Investment Corp. has a 52 week low of $9.95 and a 52 week high of $16.21. The stock has a market cap of $4,817.50, a price-to-earnings ratio of 9.43, a P/E/G ratio of 1.30 and a beta of 1.95.
MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.43 earnings per share 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 company had revenue of $271.50 million for the quarter, compared to analysts’ expectations of $273.66 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. MGIC Investment’s revenue for the quarter was up 1.9% on a year-over-year basis. equities analysts anticipate that MGIC Investment Corp. will post 1.43 earnings per share for the current fiscal year.
Several brokerages have commented on MTG. B. Riley restated a “buy” rating and set a $19.00 price objective on shares of MGIC Investment in a research report on Thursday, January 18th. Wells Fargo reiterated a “buy” rating on shares of MGIC Investment in a report on Friday, December 8th. ValuEngine upgraded shares of MGIC Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Royal Bank of Canada began coverage on shares of MGIC Investment in a report on Wednesday, December 20th. They set an “outperform” rating and a $18.00 price target for the company. Finally, BTIG Research upped their price target on shares of MGIC Investment from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. MGIC Investment has a consensus rating of “Buy” and a consensus price target of $16.44.
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About MGIC Investment
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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