B. Riley Weighs in on MGIC Investment Corp.’s Q4 2018 Earnings (MTG)

MGIC Investment Corp. (NYSE:MTG) – Analysts at B. Riley issued their Q4 2018 EPS estimates for shares of MGIC Investment in a report released on Tuesday, January 8th. B. Riley analyst R. Binner expects that the insurance provider will earn $0.38 per share for the quarter.

Other equities research analysts have also recently issued reports about the stock. Compass Point increased their price objective on shares of MGIC Investment from $14.50 to $16.50 and gave the company a “buy” rating in a research note on Monday, October 22nd. Susquehanna Bancshares set a $17.00 price objective on shares of MGIC Investment and gave the company a “buy” rating in a research note on Thursday, October 18th. ValuEngine raised shares of MGIC Investment from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Royal Bank of Canada reaffirmed a “hold” rating and set a $14.00 price target on shares of MGIC Investment in a research note on Sunday, October 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.00 price target on shares of MGIC Investment in a research note on Tuesday, December 11th. One 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. The company currently has a consensus rating of “Buy” and an average target price of $16.04.

Shares of NYSE MTG opened at $11.09 on Thursday. The stock has a market capitalization of $4.00 billion, a P/E ratio of 8.15, a price-to-earnings-growth ratio of 1.43 and a beta of 1.67. MGIC Investment has a 52 week low of $9.41 and a 52 week 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.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, October 17th. The insurance provider reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.13. The firm had revenue of $290.50 million for the quarter, compared to analysts’ expectations of $274.36 million. MGIC Investment had a net margin of 48.63% and a return on equity of 20.48%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS.

In other news, Director Michael E. Lehman purchased 7,000 shares of the firm’s stock in a transaction on Friday, October 26th. The shares were bought at an average cost of $11.70 per share, with a total value of $81,900.00. Following the purchase, the director now directly owns 29,989 shares of the company’s stock, valued at $350,871.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.01% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Federated Investors Inc. PA lifted its holdings in shares of MGIC Investment by 10.2% during the 3rd quarter. Federated Investors Inc. PA now owns 257,319 shares of the insurance provider’s stock worth $3,425,000 after acquiring an additional 23,712 shares during the period. MARSHALL WACE ASIA Ltd purchased a new position in shares of MGIC Investment during the 3rd quarter worth about $4,398,000. Kepos Capital LP purchased a new position in shares of MGIC Investment during the 3rd quarter worth about $524,000. Teachers Advisors LLC lifted its holdings in shares of MGIC Investment by 62.5% during the 3rd quarter. Teachers Advisors LLC now owns 1,641,484 shares of the insurance provider’s stock worth $21,848,000 after acquiring an additional 631,143 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in shares of MGIC Investment by 205.8% during the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 428,116 shares of the insurance provider’s stock worth $5,698,000 after acquiring an additional 288,100 shares during the period. Institutional investors and hedge funds own 91.38% of the company’s stock.

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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