MCF Advisors LLC Sells 35,134 Shares of MGIC Investment Co. (NYSE:MTG)

MCF Advisors LLC lowered its stake in shares of MGIC Investment Co. (NYSE:MTG) by 93.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,359 shares of the insurance provider’s stock after selling 35,134 shares during the quarter. MCF Advisors LLC’s holdings in MGIC Investment were worth $46,000 at the end of the most recent quarter.

Several other large investors have 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 approximately $121,000. Exchange Traded Concepts LLC bought a new position in shares of MGIC Investment during the 3rd quarter valued at approximately $1,474,000. Counterpoint Mutual Funds LLC increased its position in shares of MGIC Investment by 81.5% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 14,706 shares of the insurance provider’s stock valued at $245,000 after purchasing an additional 6,603 shares during the last quarter. Measured Wealth Private Client Group LLC increased its position in shares of 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 valued at $930,000 after purchasing an additional 2,012 shares during the last quarter. Finally, Oak Thistle LLC bought a new position in shares of MGIC Investment during the 3rd quarter valued at approximately $238,000. Institutional investors own 95.58% of the company’s stock.

Analyst Ratings Changes

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

MGIC Investment Price Performance

Shares of MTG stock opened at $19.98 on Tuesday. MGIC Investment Co. has a twelve month low of $13.97 and a twelve month high of $22.43. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 1.63 and a beta of 1.24. The stock has a fifty day simple moving average of $20.37 and a two-hundred day simple moving average of $19.07. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, topping 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 business had revenue of $284.72 million during the quarter, compared to analysts’ expectations of $302.96 million. On average, analysts predict that MGIC Investment Co. will post 2.43 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.