Foster & Motley Inc. Boosts Stake in MGIC Investment Co. (NYSE:MTG)

Foster & Motley Inc. increased its position in shares of MGIC Investment Co. (NYSE:MTG) by 25.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,902 shares of the insurance provider’s stock after acquiring an additional 39,622 shares during the period. Foster & Motley Inc. owned about 0.07% of MGIC Investment worth $3,740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MTG. Impact Partnership Wealth LLC bought a new position in shares of MGIC Investment during the 3rd quarter valued at $121,000. Exchange Traded Concepts LLC acquired a new position in shares of MGIC Investment in the third quarter worth about $1,474,000. Counterpoint Mutual Funds LLC boosted its stake in MGIC Investment by 81.5% during the third quarter. Counterpoint Mutual Funds LLC now owns 14,706 shares of the insurance provider’s stock worth $245,000 after buying an additional 6,603 shares in the last quarter. Measured Wealth Private Client Group LLC boosted its position in MGIC Investment by 3.7% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 55,717 shares of the insurance provider’s stock worth $930,000 after acquiring an additional 2,012 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in shares of MGIC Investment during the third quarter valued at about $238,000. Institutional investors own 95.58% of the company’s stock.

Wall Street Analyst Weigh In

MTG has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $24.00 target price (up from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Finally, Roth Mkm boosted their price objective on shares of MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.08.

MGIC Investment Price Performance

NYSE:MTG opened at $20.06 on Tuesday. The company has a 50-day moving average of $20.37 and a 200-day moving average of $19.07. MGIC Investment Co. has a 52 week low of $13.97 and a 52 week high of $22.43. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 1.63 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. The company had revenue of $284.72 million during the quarter, compared to the consensus estimate of $302.96 million. As a group, equities research analysts anticipate that MGIC Investment Co. will post 2.43 earnings per share for the current fiscal year.

MGIC Investment Profile

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.