Guggenheim Capital LLC Sells 65,040 Shares of MGIC Investment (MTG)

Guggenheim Capital LLC cut its holdings in shares of MGIC Investment (NYSE:MTG) by 44.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,171 shares of the insurance provider’s stock after selling 65,040 shares during the period. Guggenheim Capital LLC’s holdings in MGIC Investment were worth $1,146,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake 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 purchasing an additional 4,000 shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of MGIC Investment during the fourth quarter valued at approximately $144,000. Signition LP bought a new position in shares of MGIC Investment during the fourth quarter valued at approximately $156,000. BlueCrest Capital Management Ltd bought a new position in shares of MGIC Investment during the fourth quarter valued at approximately $164,000. Finally, Advisor Group Inc. boosted its stake in shares of MGIC Investment by 54.3% during the fourth quarter. Advisor Group Inc. now owns 15,266 shares of the insurance provider’s stock valued at $215,000 after purchasing an additional 5,374 shares in the last quarter. Hedge funds and other institutional investors own 91.87% of the company’s stock.

A number of equities analysts have recently issued reports on MTG shares. B. Riley reiterated a “buy” rating and set a $19.00 price objective on shares of MGIC Investment in a research note on Thursday, January 18th. Wells Fargo downgraded shares of MGIC Investment from an “outperform” rating to a “market perform” rating and raised their target price for the company from $10.50 to $12.00 in a research note on Thursday, April 19th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $16.00 target price on shares of MGIC Investment in a research note on Tuesday, April 10th. BTIG Research restated a “buy” rating and issued a $18.00 target price on shares of MGIC Investment in a research note on Sunday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $20.00 target price (up from $12.00) on shares of MGIC Investment in a research note on Tuesday, April 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $15.87.

Shares of MTG opened at $10.32 on Tuesday. The company has a market capitalization of $3,934.85, a price-to-earnings ratio of 7.59, a PEG ratio of 1.09 and a beta of 1.95. MGIC Investment has a twelve month low of $10.03 and a twelve month high of $16.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.18 and a quick ratio of 0.18.

MGIC Investment (NYSE:MTG) last announced its earnings results on Wednesday, April 18th. The insurance provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The company had revenue of $265.80 million during the quarter, compared to the consensus estimate of $273.94 million. MGIC Investment had a net margin of 38.25% and a return on equity of 17.62%. MGIC Investment’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. equities analysts predict that MGIC Investment will post 1.39 earnings per share for the current fiscal year.

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MGIC Investment Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the United States. 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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