Verition Fund Management LLC purchased a new stake in shares of MGIC Investment Corp. (NYSE:MTG) during the 4th quarter, HoldingsChannel reports. The firm purchased 23,767 shares of the insurance provider’s stock, valued at approximately $335,000.
Several other institutional investors and hedge funds also recently made changes to their positions in MTG. Nisa Investment Advisors LLC increased its position in shares of MGIC Investment by 125.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,190 shares of the insurance provider’s stock valued at $101,000 after buying an additional 4,000 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in shares of MGIC Investment during the third quarter valued at about $107,000. Eqis Capital Management Inc. bought a new stake in shares of MGIC Investment during the fourth quarter valued at about $144,000. Zeke Capital Advisors LLC bought a new stake in shares of MGIC Investment during the third quarter valued at about $150,000. Finally, Signition LP bought a new stake in shares of MGIC Investment during the fourth quarter valued at about $156,000. Hedge funds and other institutional investors own 92.75% of the company’s stock.
MGIC Investment Corp. (NYSE:MTG) opened at $12.25 on Monday. MGIC Investment Corp. has a twelve month low of $9.68 and a twelve month high of $16.21. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4,543.06, a PE ratio of 8.94, a PEG ratio of 1.22 and a beta of 2.27.
Several equities research analysts have recently weighed in on MTG shares. BTIG Research upped their price target on MGIC Investment from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Wells Fargo reiterated a “buy” rating on shares of MGIC Investment in a research report on Friday, December 8th. Royal Bank of Canada started coverage on MGIC Investment in a research report on Wednesday, December 20th. They set an “outperform” rating and a $18.00 price target on the stock. ValuEngine upgraded MGIC Investment from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Finally, B. Riley reiterated a “buy” rating and set a $19.00 price target on shares of MGIC Investment in a research report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. MGIC Investment presently has an average rating of “Buy” and an average price target of $16.44.
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About MGIC Investment
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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