Signaturefd LLC Raises Stock Position in MGIC Investment Co. (NYSE:MTG)

Signaturefd LLC boosted its position in shares of MGIC Investment Co. (NYSE:MTG) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,162 shares of the insurance provider’s stock after acquiring an additional 862 shares during the period. Signaturefd LLC’s holdings in MGIC Investment were worth $428,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MTG. Invesco Ltd. grew its stake in MGIC Investment by 47.3% during the third quarter. Invesco Ltd. now owns 3,174,560 shares of the insurance provider’s stock valued at $52,983,000 after acquiring an additional 1,019,759 shares in the last quarter. AQR Capital Management LLC grew its stake in MGIC Investment by 30.3% in the 3rd quarter. AQR Capital Management LLC now owns 4,233,477 shares of the insurance provider’s stock worth $70,657,000 after buying an additional 985,512 shares in the last quarter. LSV Asset Management grew its stake in MGIC Investment by 8.5% in the 3rd quarter. LSV Asset Management now owns 10,427,565 shares of the insurance provider’s stock worth $174,036,000 after buying an additional 820,182 shares in the last quarter. FMR LLC grew its stake in MGIC Investment by 26.7% in the 3rd quarter. FMR LLC now owns 3,829,710 shares of the insurance provider’s stock worth $63,918,000 after buying an additional 807,637 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in MGIC Investment by 302.3% in the 3rd quarter. Acadian Asset Management LLC now owns 661,778 shares of the insurance provider’s stock worth $11,034,000 after buying an additional 497,261 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Trading Up 0.2 %

Shares of MTG opened at $20.35 on Thursday. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 1.67 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. MGIC Investment Co. has a fifty-two week low of $13.97 and a fifty-two week high of $22.43. The firm has a 50 day moving average price of $20.41 and a 200-day moving average price of $19.10.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. The firm had revenue of $284.72 million during the quarter, compared to analyst estimates of $302.96 million. As a group, equities research analysts forecast that MGIC Investment Co. will post 2.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $24.00 price target (up previously from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Roth Mkm boosted their price target on shares of MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.08.

About MGIC Investment

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. 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.