Wedge Capital Management L L P NC Has $1.49 Million Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Wedge Capital Management L L P NC boosted its stake in MGIC Investment Co. (NYSE:MTG) by 13.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,195 shares of the insurance provider’s stock after purchasing an additional 9,338 shares during the quarter. Wedge Capital Management L L P NC’s holdings in MGIC Investment were worth $1,489,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new position in shares of MGIC Investment during the third quarter valued at about $1,474,000. Oak Thistle LLC acquired a new position in shares of MGIC Investment during the third quarter valued at about $238,000. Asset Management One Co. Ltd. acquired a new position in shares of MGIC Investment during the third quarter valued at about $650,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of MGIC Investment by 109.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 793,133 shares of the insurance provider’s stock valued at $13,237,000 after buying an additional 413,561 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of MGIC Investment by 12.4% during the third quarter. Xponance Inc. now owns 39,550 shares of the insurance provider’s stock valued at $660,000 after buying an additional 4,368 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

MGIC Investment Stock Up 0.0 %

MGIC Investment stock opened at $20.36 on Friday. MGIC Investment Co. has a fifty-two week low of $13.97 and a fifty-two week high of $22.43. The stock has a market cap of $5.49 billion, a PE ratio of 8.18, a price-to-earnings-growth ratio of 1.68 and a beta of 1.24. The firm’s 50-day simple moving average is $20.43 and its 200 day simple moving average is $19.11. 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 (NYSE:MTG) last released its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $284.72 million for the quarter, compared to analysts’ expectations of $302.96 million. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. Research analysts predict that MGIC Investment Co. will post 2.43 EPS for the current fiscal year.

MGIC Investment Company Profile

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.