Dupont Capital Management Corp grew its position in MGIC Investment Corp. (NYSE:MTG) by 13.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 389,615 shares of the insurance provider’s stock after buying an additional 45,628 shares during the period. Dupont Capital Management Corp owned 0.11% of MGIC Investment worth $5,186,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Guggenheim Capital LLC increased its holdings in MGIC Investment by 123.5% in the first quarter. Guggenheim Capital LLC now owns 181,434 shares of the insurance provider’s stock worth $2,358,000 after purchasing an additional 100,263 shares in the last quarter. Allianz Asset Management GmbH grew its stake in MGIC Investment by 38.5% in the first quarter. Allianz Asset Management GmbH now owns 623,878 shares of the insurance provider’s stock valued at $8,111,000 after acquiring an additional 173,561 shares during the period. Xact Kapitalforvaltning AB grew its stake in MGIC Investment by 14.5% in the second quarter. Xact Kapitalforvaltning AB now owns 56,782 shares of the insurance provider’s stock valued at $609,000 after acquiring an additional 7,200 shares during the period. Bank of Montreal Can grew its stake in MGIC Investment by 6.0% in the second quarter. Bank of Montreal Can now owns 482,493 shares of the insurance provider’s stock valued at $5,172,000 after acquiring an additional 27,512 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in MGIC Investment in the second quarter valued at approximately $134,000. 92.21% of the stock is owned by institutional investors and hedge funds.
MTG has been the subject of a number of research reports. ValuEngine cut MGIC Investment from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Royal Bank of Canada reissued a “hold” rating and issued a $14.00 price objective on shares of MGIC Investment in a research note on Sunday, October 21st. Susquehanna Bancshares set a $17.00 price objective on MGIC Investment and gave the company a “buy” rating in a research note on Thursday, October 18th. Compass Point raised their price objective on MGIC Investment from $14.50 to $16.50 and gave the company a “buy” rating in a research note on Monday, October 22nd. Finally, Bank of America raised their price objective on MGIC Investment from $13.00 to $23.00 and gave the company an “underperform” rating in a research note on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $16.04.
Shares of NYSE:MTG opened at $12.40 on Friday. The company has a market cap of $4.52 billion, a P/E ratio of 7.01, a P/E/G ratio of 1.44 and a beta of 1.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.28 and a current ratio of 0.28. MGIC Investment Corp. has a 12-month low of $9.97 and a 12-month high of $16.21.
MGIC Investment (NYSE:MTG) last announced its earnings results on Wednesday, October 17th. The insurance provider reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.13. The company had revenue of $290.50 million for the quarter, compared to analysts’ expectations of $274.36 million. MGIC Investment had a return on equity of 20.89% and a net margin of 48.63%. MGIC Investment’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, research analysts predict that MGIC Investment Corp. will post 1.73 earnings per share for the current fiscal year.
In related news, Director Michael E. Lehman bought 7,000 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average price of $11.70 per share, with a total value of $81,900.00. Following the completion of the transaction, the director now directly owns 29,989 shares in the company, valued at $350,871.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.01% of the stock is owned by insiders.
MGIC Investment Profile
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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