MGIC Investment Co. (NYSE:MTG) Stock Position Boosted by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. grew its stake in shares of MGIC Investment Co. (NYSE:MTGFree Report) by 13.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,173 shares of the insurance provider’s stock after buying an additional 7,290 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in MGIC Investment were worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Hara Capital LLC acquired a new stake in shares of MGIC Investment in the third quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in MGIC Investment in the 3rd quarter valued at about $33,000. UMB Bank n.a. grew its stake in shares of MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $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 3rd quarter worth approximately $69,000. Finally, Covestor Ltd lifted its stake in MGIC Investment by 65.5% during the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock valued at $87,000 after purchasing an additional 1,341 shares during the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Down 0.1 %

Shares of MGIC Investment stock opened at $24.76 on Friday. MGIC Investment Co. has a 1 year low of $18.68 and a 1 year high of $26.56. The company has a market cap of $6.27 billion, a P/E ratio of 8.72, a P/E/G ratio of 1.85 and a beta of 1.29. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $24.50 and a 200 day moving average price of $24.55.

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

Wall Street Analyst Weigh In

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

View Our Latest Stock Analysis on MGIC Investment

About MGIC Investment

(Free Report)

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.

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Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

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