Robertson Opportunity Capital LLC reduced its stake in shares of MGIC Investment Corp. (NYSE:MTG) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 378,000 shares of the insurance provider’s stock after selling 60,000 shares during the period. MGIC Investment makes up approximately 3.1% of Robertson Opportunity Capital LLC’s investment portfolio, making the stock its 13th biggest holding. Robertson Opportunity Capital LLC owned 0.10% of MGIC Investment worth $5,334,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in MGIC Investment by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 13,311,911 shares of the insurance provider’s stock valued at $166,798,000 after purchasing an additional 114,080 shares during the period. APG Asset Management N.V. lifted its position in MGIC Investment by 221.9% during the fourth quarter. APG Asset Management N.V. now owns 3,991,500 shares of the insurance provider’s stock valued at $46,902,000 after purchasing an additional 2,751,600 shares during the period. Copper Rock Capital Partners LLC lifted its position in MGIC Investment by 3.6% during the fourth quarter. Copper Rock Capital Partners LLC now owns 2,927,105 shares of the insurance provider’s stock valued at $42,180,000 after purchasing an additional 101,603 shares during the period. Bailard Inc. acquired a new position in MGIC Investment during the fourth quarter valued at $1,213,000. Finally, Royal Bank of Canada lifted its position in MGIC Investment by 92.3% during the second quarter. Royal Bank of Canada now owns 40,756 shares of the insurance provider’s stock valued at $457,000 after purchasing an additional 19,567 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.
MTG has been the subject of a number of recent analyst reports. B. Riley reaffirmed a “buy” rating and issued a $19.00 price objective on shares of MGIC Investment in a report on Thursday, January 18th. Wells Fargo & Co reaffirmed a “buy” rating on shares of MGIC Investment in a report on Friday, December 8th. ValuEngine raised shares of MGIC Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Royal Bank of Canada initiated coverage on shares of MGIC Investment in a report on Wednesday, December 20th. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, BTIG Research lifted their price objective on shares of MGIC Investment from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $16.39.
MGIC Investment (NYSE:MTG) last released its earnings results on Thursday, January 18th. The insurance provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.16. MGIC Investment had a net margin of 33.37% and a return on equity of 17.36%. The business had revenue of $271.50 million during the quarter, compared to analysts’ expectations of $273.66 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. research analysts forecast that MGIC Investment Corp. will post 1.43 EPS for the current fiscal year.
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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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