DGS Capital Management LLC Buys 4,647 Shares of MGIC Investment Co. (NYSE:MTG)

DGS Capital Management LLC boosted its stake in shares of MGIC Investment Co. (NYSE:MTG) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,444 shares of the insurance provider’s stock after buying an additional 4,647 shares during the quarter. MGIC Investment makes up 0.5% of DGS Capital Management LLC’s portfolio, making the stock its 28th largest position. DGS Capital Management LLC’s holdings in MGIC Investment were worth $2,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Hara Capital LLC purchased a new stake in shares of MGIC Investment in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new stake in shares of MGIC Investment in the 3rd quarter worth $33,000. UMB Bank n.a. increased its stake in shares of MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after buying an additional 938 shares during the period. Brooklyn Investment Group bought a new stake in shares of MGIC Investment in the third quarter valued at about $69,000. Finally, Covestor Ltd lifted its stake in MGIC Investment by 65.5% in the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 1,341 shares during the period. 95.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MTG shares. Barclays boosted their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and cut their price objective for the company from $26.00 to $25.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods lowered their target price on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. Finally, Royal Bank of Canada reduced 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.86.

MGIC Investment Price Performance

NYSE MTG opened at $24.76 on Friday. MGIC Investment Co. has a 12-month low of $18.68 and a 12-month high of $26.56. The firm’s fifty day simple moving average is $24.50 and its two-hundred day simple moving average is $24.55. 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 firm has a market capitalization 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.

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

About MGIC Investment

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.