DGS Capital Management LLC Increases Holdings in MGIC Investment Co. (NYSE:MTG)

DGS Capital Management LLC increased its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,444 shares of the insurance provider’s stock after purchasing an additional 4,647 shares during the quarter. MGIC Investment makes up 0.5% of DGS Capital Management LLC’s portfolio, making the stock its 28th biggest holding. DGS Capital Management LLC’s holdings in MGIC Investment were worth $2,144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in MGIC Investment by 0.8% during the 3rd quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock valued at $232,767,000 after buying an additional 73,851 shares in the last quarter. Franklin Resources Inc. grew its stake in MGIC Investment by 6.5% during the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after acquiring an additional 98,369 shares in the last quarter. Vest Financial LLC increased its holdings in MGIC Investment by 3.7% in the 3rd quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider’s stock valued at $28,499,000 after acquiring an additional 39,502 shares during the last quarter. Mackenzie Financial Corp lifted its stake in MGIC Investment by 2.9% in the 2nd quarter. Mackenzie Financial Corp now owns 879,674 shares of the insurance provider’s stock worth $18,957,000 after purchasing an additional 24,627 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of MGIC Investment during the 3rd quarter valued at about $13,535,000. Institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MTG. Barclays lifted their target price on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and cut their price target for the company from $26.00 to $25.00 in a report on Monday, December 9th. Royal Bank of Canada decreased their price objective on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods cut their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.86.

MGIC Investment Price Performance

Shares of MGIC Investment stock opened at $24.76 on Friday. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a 50 day moving average price of $24.50 and a 200-day moving average price of $24.55. MGIC Investment Co. has a one year low of $18.68 and a one year high of $26.56.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The company had revenue of $306.65 million during the quarter, compared to analyst estimates of $306.03 million. During the same period in the previous year, the firm earned $0.64 earnings per share. MGIC Investment’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts expect that MGIC Investment Co. will post 2.85 EPS for the current 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.