MGIC Investment Co. (NYSE:MTG) Shares Bought by Foster & Motley Inc.

Foster & Motley Inc. grew its position in shares of MGIC Investment Co. (NYSE:MTG) by 25.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,902 shares of the insurance provider’s stock after purchasing an additional 39,622 shares during the period. Foster & Motley Inc.’s holdings in MGIC Investment were worth $3,740,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. raised its stake in shares of MGIC Investment by 49.2% in the fourth 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 in the last quarter. Planned Solutions Inc. purchased a new position in MGIC Investment in the fourth quarter valued at $66,000. USA Financial Formulas purchased a new position in MGIC Investment in the third quarter valued at $100,000. Janiczek Wealth Management LLC increased its holdings in MGIC Investment by 29.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 5,572 shares of the insurance provider’s stock valued at $107,000 after buying an additional 1,269 shares during the last quarter. Finally, Impact Partnership Wealth LLC purchased a new position in shares of MGIC Investment during the third quarter worth about $121,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $24.00 price objective (up previously from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Royal Bank of Canada raised their price target on MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Finally, Roth Mkm raised their price target on MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $21.08.

MGIC Investment Price Performance

Shares of NYSE:MTG opened at $20.06 on Tuesday. The business’s 50 day simple moving average is $20.37 and its 200-day simple moving average is $19.07. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 8.02, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. MGIC Investment Co. has a 12 month low of $13.97 and a 12 month high of $22.43.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $284.72 million during the quarter, compared to the consensus estimate of $302.96 million. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. As a group, equities analysts forecast that MGIC Investment Co. will post 2.43 earnings per share for the current fiscal 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.