Nilsine Partners LLC Has $2.09 Million Holdings in MGIC Investment Co. (NYSE:MTG)

Nilsine Partners LLC raised its position in MGIC Investment Co. (NYSE:MTG) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,317 shares of the insurance provider’s stock after purchasing an additional 6,510 shares during the quarter. Nilsine Partners LLC’s holdings in MGIC Investment were worth $2,094,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hara Capital LLC acquired a new stake in MGIC Investment in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new position in shares of MGIC Investment during the 3rd quarter worth approximately $33,000. UMB Bank n.a. raised its holdings in shares of MGIC Investment by 131.9% in the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 938 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of MGIC Investment in the third quarter worth $69,000. Finally, Covestor Ltd boosted its holdings in MGIC Investment by 65.5% during the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 1,341 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

MGIC Investment Stock Performance

MTG opened at $25.57 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a 12-month low of $18.68 and a 12-month high of $26.56. The business has a 50 day moving average of $24.49 and a 200-day moving average of $24.62. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 1.85 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.11. The business had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. On average, equities research analysts expect that MGIC Investment Co. will post 2.85 earnings per share for the current year.

About MGIC Investment

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.