Jane Street Group LLC bought a new stake in shares of MGIC Investment Corp. (NYSE:MTG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 31,757 shares of the insurance provider’s stock, valued at approximately $423,000.
Other large investors also recently made changes to their positions in the company. LPL Financial LLC boosted its position in MGIC Investment by 3.9% in the third quarter. LPL Financial LLC now owns 126,570 shares of the insurance provider’s stock worth $1,685,000 after purchasing an additional 4,758 shares during the last quarter. Raymond James & Associates boosted its position in MGIC Investment by 19.9% in the second quarter. Raymond James & Associates now owns 31,671 shares of the insurance provider’s stock worth $340,000 after purchasing an additional 5,247 shares during the last quarter. Baird Financial Group Inc. boosted its position in MGIC Investment by 9.5% in the third quarter. Baird Financial Group Inc. now owns 67,372 shares of the insurance provider’s stock worth $883,000 after purchasing an additional 5,849 shares during the last quarter. Bailard Inc. boosted its position in MGIC Investment by 15.4% in the third quarter. Bailard Inc. now owns 46,400 shares of the insurance provider’s stock worth $618,000 after purchasing an additional 6,200 shares during the last quarter. Finally, Goelzer Investment Management Inc. boosted its position in MGIC Investment by 2.4% in the third quarter. Goelzer Investment Management Inc. now owns 377,093 shares of the insurance provider’s stock worth $5,019,000 after purchasing an additional 8,765 shares during the last quarter. 91.38% of the stock is currently owned by institutional investors.
In other news, Director Michael E. Lehman purchased 7,000 shares of the company’s stock in a transaction dated Friday, October 26th. The shares were purchased at an average price of $11.70 per share, with a total value of $81,900.00. Following the transaction, the director now directly owns 29,989 shares of the company’s stock, valued at $350,871.30. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.01% of the stock is owned by corporate insiders.
Shares of NYSE MTG opened at $11.09 on Friday. MGIC Investment Corp. has a one year low of $9.41 and a one year high of $16.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market cap of $4.00 billion, a PE ratio of 8.15, a PEG ratio of 1.43 and a beta of 1.67.
MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Wednesday, October 17th. The insurance provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. MGIC Investment had a return on equity of 20.48% and a net margin of 48.63%. The firm had revenue of $290.50 million for the quarter, compared to analysts’ expectations of $274.36 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, research analysts expect that MGIC Investment Corp. will post 1.74 EPS for the current fiscal year.
Several research firms have weighed in on MTG. Compass Point boosted their price objective on MGIC Investment from $14.50 to $16.50 and gave the stock a “buy” rating in a research report on Monday, October 22nd. Susquehanna Bancshares set a $17.00 price objective on MGIC Investment and gave the stock a “buy” rating in a research report on Thursday, October 18th. ValuEngine raised MGIC Investment from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Royal Bank of Canada reissued a “hold” rating and issued a $14.00 price objective on shares of MGIC Investment in a research report on Sunday, October 21st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $18.00 price objective on shares of MGIC Investment in a research report on Tuesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. MGIC Investment has a consensus rating of “Buy” and a consensus target price of $16.04.
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About MGIC Investment
MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the United States. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.
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