First Trust Advisors LP reduced its stake in shares of MGIC Investment Corp. (NYSE:MTG) by 7.9% during the 4th quarter, HoldingsChannel reports. The fund owned 257,441 shares of the insurance provider’s stock after selling 22,058 shares during the period. First Trust Advisors LP’s holdings in MGIC Investment were worth $3,632,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of MTG. Nisa Investment Advisors LLC grew its holdings in shares of MGIC Investment by 125.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,190 shares of the insurance provider’s stock valued at $101,000 after acquiring an additional 4,000 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of MGIC Investment during the 3rd quarter valued at $107,000. Eqis Capital Management Inc. purchased a new position in shares of MGIC Investment during the 4th quarter valued at $144,000. Zeke Capital Advisors LLC purchased a new position in shares of MGIC Investment during the 3rd quarter valued at $150,000. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of MGIC Investment by 88.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,555 shares of the insurance provider’s stock valued at $219,000 after acquiring an additional 9,170 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.
Several research firms have recently commented on MTG. Wells Fargo & Co restated a “buy” rating on shares of MGIC Investment in a report on Thursday. ValuEngine upgraded shares of MGIC Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. B. Riley reiterated a “buy” rating and issued a $19.00 price objective on shares of MGIC Investment in a report on Thursday, January 18th. Deutsche Bank upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating and upped their price objective for the stock from $15.00 to $18.00 in a report on Monday, January 8th. Finally, BTIG Research upped their price objective 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. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. MGIC Investment currently has a consensus rating of “Buy” and a consensus target price of $16.39.
MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.16. The firm had revenue of $271.50 million during the quarter, compared to analysts’ expectations of $273.66 million. MGIC Investment had a net margin of 33.37% and a return on equity of 17.36%. MGIC Investment’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. analysts anticipate that MGIC Investment Corp. will post 1.43 EPS for the current fiscal year.
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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