Aperio Group LLC Has $1.53 Million Stake in MGIC Investment Corp. (MTG)

Aperio Group LLC lifted its position in shares of MGIC Investment Corp. (NYSE:MTG) by 39.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,630 shares of the insurance provider’s stock after purchasing an additional 32,305 shares during the quarter. Aperio Group LLC’s holdings in MGIC Investment were worth $1,526,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of MGIC Investment during the 2nd quarter worth approximately $115,000. Pillar Pacific Capital Management LLC acquired a new stake in shares of MGIC Investment during the 2nd quarter worth approximately $116,000. Appleton Group LLC acquired a new stake in shares of MGIC Investment during the 2nd quarter worth approximately $124,000. Fox Run Management L.L.C. acquired a new stake in shares of MGIC Investment during the 2nd quarter worth approximately $134,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of MGIC Investment during the 2nd quarter worth approximately $149,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Michael E. Lehman purchased 7,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were purchased at an average price of $11.70 per share, with a total value of $81,900.00. Following the purchase, the director now owns 29,989 shares of the company’s stock, valued at $350,871.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.01% of the stock is currently owned by company insiders.

A number of equities research analysts have recently commented on MTG shares. Compass Point raised their price objective on shares of MGIC Investment from $14.50 to $16.50 and gave the stock a “buy” rating in a research note on Monday, October 22nd. ValuEngine cut shares of MGIC Investment from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. B. Riley raised their price objective on shares of MGIC Investment from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Bank of America raised their price objective on shares of MGIC Investment from $13.00 to $23.00 and gave the stock an “underperform” rating in a research note on Monday, August 13th. Finally, Susquehanna Bancshares set a $17.00 price objective on shares of MGIC Investment and gave the stock a “buy” rating in a research note on Thursday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $16.04.

MGIC Investment stock opened at $12.40 on Friday. MGIC Investment Corp. has a 1 year low of $9.97 and a 1 year high of $16.21. The firm has a market capitalization of $4.52 billion, a P/E ratio of 9.12, a P/E/G ratio of 1.44 and a beta of 1.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.28 and a current ratio of 0.28.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Wednesday, October 17th. The insurance provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. MGIC Investment had a net margin of 48.63% and a return on equity of 20.89%. The firm had revenue of $290.50 million for the quarter, compared to analysts’ expectations of $274.36 million. During the same quarter last year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, analysts forecast that MGIC Investment Corp. will post 1.73 EPS for the current 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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