Sadoff Investment Management LLC cut its holdings in MGIC Investment Corp. (NYSE:MTG) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,420,800 shares of the insurance provider’s stock after selling 28,350 shares during the quarter. MGIC Investment accounts for approximately 2.8% of Sadoff Investment Management LLC’s portfolio, making the stock its 19th largest position. Sadoff Investment Management LLC’s holdings in MGIC Investment were worth $34,157,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in MGIC Investment by 125.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,190 shares of the insurance provider’s stock worth $101,000 after acquiring an additional 4,000 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in MGIC Investment in the third quarter worth about $107,000. Eqis Capital Management Inc. purchased a new stake in MGIC Investment in the fourth quarter worth about $144,000. Arrowstreet Capital Limited Partnership purchased a new stake in MGIC Investment in the second quarter worth about $132,000. Finally, Zeke Capital Advisors LLC purchased a new stake in MGIC Investment in the third quarter worth about $150,000. 92.24% of the stock is owned by institutional investors.
MGIC Investment Corp. (MTG) opened at $14.51 on Wednesday. MGIC Investment Corp. has a fifty-two week low of $9.68 and a fifty-two week high of $16.21. 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 stock has a market cap of $5,354.69, a PE ratio of 15.44, a PEG ratio of 1.44 and a beta of 2.28.
A number of research firms recently weighed in on MTG. ValuEngine raised shares of MGIC Investment from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. B. Riley reissued a “buy” rating and set a $19.00 price target on shares of MGIC Investment in a research report on Thursday, January 18th. Deutsche Bank raised shares of MGIC Investment from a “hold” rating to a “buy” rating and increased their price target for the company from $15.00 to $18.00 in a research report on Monday, January 8th. BTIG Research increased their price target on shares of MGIC Investment from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Finally, Royal Bank of Canada initiated coverage on shares of MGIC Investment in a research report on Wednesday, December 20th. They set an “outperform” rating and a $18.00 price target for the company. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $15.63.
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MGIC Investment 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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