Virtu Financial LLC acquired a new stake in MGIC Investment Corp. (NYSE:MTG) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 59,295 shares of the insurance provider’s stock, valued at approximately $837,000.
Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of MGIC Investment by 92.3% during the 2nd quarter. Royal Bank of Canada now owns 40,756 shares of the insurance provider’s stock valued at $457,000 after buying an additional 19,567 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of MGIC Investment by 88.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 19,555 shares of the insurance provider’s stock valued at $219,000 after buying an additional 9,170 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of MGIC Investment during the 2nd quarter valued at $559,000. APG Asset Management N.V. bought a new position in shares of MGIC Investment during the 3rd quarter valued at $15,536,000. Finally, Strs Ohio lifted its holdings in shares of MGIC Investment by 32.9% during the 3rd quarter. Strs Ohio now owns 155,900 shares of the insurance provider’s stock valued at $1,953,000 after buying an additional 38,600 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of MGIC Investment Corp. (MTG) opened at $14.36 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $5,295.91, a price-to-earnings ratio of 15.28, a PEG ratio of 1.42 and a beta of 2.28. MGIC Investment Corp. has a 12 month low of $9.68 and a 12 month high of $16.21.
Several research firms have recently weighed in on MTG. Wells Fargo & Co reissued a “buy” rating on shares of MGIC Investment in a report on Thursday, February 8th. ValuEngine raised MGIC Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. B. Riley reissued a “buy” rating and set a $19.00 price target on shares of MGIC Investment in a report on Thursday, January 18th. Deutsche Bank raised MGIC Investment from a “hold” rating to a “buy” rating and increased their price target for the company from $15.00 to $18.00 in a report on Monday, January 8th. Finally, BTIG Research increased their price target on MGIC Investment from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.39.
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MGIC Investment Profile
MGIC Investment Corporation is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. The Company provides mortgage insurance to lenders throughout the United States and to government-sponsored entities to protect against loss from defaults on low down payment residential mortgage loans.
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