Nilsine Partners LLC Purchases 6,510 Shares of MGIC Investment Co. (NYSE:MTG)

Nilsine Partners LLC grew its position in shares of MGIC Investment Co. (NYSE:MTG) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,317 shares of the insurance provider’s stock after buying an additional 6,510 shares during the period. Nilsine Partners LLC’s holdings in MGIC Investment were worth $2,094,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its stake in MGIC Investment by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock worth $3,858,000 after acquiring an additional 540 shares in the last quarter. Lindenwold Advisors INC grew its holdings in shares of MGIC Investment by 3.7% during the 3rd quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider’s stock valued at $425,000 after purchasing an additional 592 shares during the last quarter. Inspire Investing LLC increased its position in MGIC Investment by 4.8% during the 4th quarter. Inspire Investing LLC now owns 16,883 shares of the insurance provider’s stock worth $400,000 after purchasing an additional 766 shares in the last quarter. UMB Bank n.a. lifted its stake in MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 938 shares during the last quarter. Finally, Financial Strategies Group Inc. boosted its position in MGIC Investment by 9.2% in the third quarter. Financial Strategies Group Inc. now owns 11,440 shares of the insurance provider’s stock valued at $295,000 after buying an additional 966 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

Shares of MTG opened at $25.57 on Tuesday. The business has a 50-day moving average of $24.49 and a 200-day moving average of $24.62. MGIC Investment Co. has a 1 year low of $18.68 and a 1 year high of $26.56. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25.

MGIC Investment (NYSE:MTG) last issued 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 firm had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. During the same quarter in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that MGIC Investment Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.