Impact Partnership Wealth LLC Buys New Shares in MGIC Investment Co. (NYSE:MTG)

Impact Partnership Wealth LLC purchased a new position in MGIC Investment Co. (NYSE:MTG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,349 shares of the insurance provider’s stock, valued at approximately $459,000.

Several other institutional investors also recently modified their holdings of the stock. Hara Capital LLC acquired a new position in shares of MGIC Investment in the 3rd quarter worth $25,000. V Square Quantitative Management LLC acquired a new position in shares of MGIC Investment in the 3rd quarter valued at $33,000. UMB Bank n.a. increased 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 worth $39,000 after purchasing an additional 938 shares in the last quarter. Brooklyn Investment Group acquired a new stake in MGIC Investment during the 3rd quarter worth about $69,000. Finally, Covestor Ltd lifted its stake in MGIC Investment by 65.5% during the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock valued at $87,000 after buying an additional 1,341 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

Analyst Ratings Changes

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

MGIC Investment Price Performance

MTG opened at $24.76 on Friday. The stock has a fifty day moving average price of $24.50 and a 200 day moving average price of $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. MGIC Investment Co. has a 1 year low of $18.68 and a 1 year high of $26.56. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 1.85 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last announced its quarterly 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. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The business had revenue of $306.65 million during the quarter, compared to analyst estimates of $306.03 million. During the same period in the previous year, the company earned $0.64 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. 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.