Vident Advisory LLC Purchases 37,030 Shares of MGIC Investment Co. (NYSE:MTG)

Vident Advisory LLC grew its position in MGIC Investment Co. (NYSE:MTG) by 21.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 212,660 shares of the insurance provider’s stock after acquiring an additional 37,030 shares during the quarter. Vident Advisory LLC owned 0.08% of MGIC Investment worth $4,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System raised its position in MGIC Investment by 0.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 78,400 shares of the insurance provider’s stock worth $1,753,000 after purchasing an additional 500 shares during the period. QRG Capital Management Inc. raised its holdings in shares of MGIC Investment by 4.1% in the 4th quarter. QRG Capital Management Inc. now owns 14,703 shares of the insurance provider’s stock valued at $284,000 after purchasing an additional 584 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in MGIC Investment by 0.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 117,517 shares of the insurance provider’s stock valued at $2,267,000 after buying an additional 774 shares during the period. Asset Management One Co. Ltd. lifted its holdings in MGIC Investment by 2.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 39,747 shares of the insurance provider’s stock worth $774,000 after buying an additional 812 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of MGIC Investment by 49.2% in the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock valued at $50,000 after acquiring an additional 849 shares during the period. 95.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price target on shares of MGIC Investment from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods raised shares of MGIC Investment from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $24.00 to $25.00 in a research report on Monday, June 3rd. Finally, Barclays lifted their price objective on shares of MGIC Investment from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, MGIC Investment presently has a consensus rating of “Hold” and a consensus price target of $22.17.

MGIC Investment Stock Up 0.8 %

NYSE:MTG traded up $0.20 during midday trading on Friday, hitting $24.63. 528,555 shares of the company were exchanged, compared to its average volume of 1,871,955. The company has a market capitalization of $6.57 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 7.87 and a beta of 1.28. The company has a fifty day simple moving average of $21.57 and a 200 day simple moving average of $20.68. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.13. MGIC Investment Co. has a fifty-two week low of $16.30 and a fifty-two week high of $24.77.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. The firm had revenue of $294.40 million for the quarter, compared to analyst estimates of $301.62 million. During the same quarter last year, the company posted $0.54 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts anticipate that MGIC Investment Co. will post 2.52 earnings per share 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.