MGIC Investment Co. (NYSE:MTG) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. reduced its stake in MGIC Investment Co. (NYSE:MTG) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,352 shares of the insurance provider’s stock after selling 789 shares during the quarter. Shell Asset Management Co.’s holdings in MGIC Investment were worth $477,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC purchased a new position in MGIC Investment during the fourth quarter worth about $30,000. Pacific Capital Wealth Advisors Inc. bought a new stake in MGIC Investment during the 4th quarter valued at $31,000. Quarry LP raised its stake in MGIC Investment by 244.4% during the 4th quarter. Quarry LP now owns 1,977 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 1,403 shares in the last quarter. CWM LLC increased its position in shares of MGIC Investment by 249.1% during the 1st quarter. CWM LLC now owns 2,175 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 1,552 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of MGIC Investment by 49.2% in the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock worth $50,000 after acquiring an additional 849 shares during the last quarter. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MTG has been the topic of a number of research analyst reports. Barclays lifted their price target on MGIC Investment from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods raised MGIC Investment from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $24.00 to $25.00 in a research report on Monday, June 3rd. Finally, UBS Group lifted their price objective on MGIC Investment from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.17.

MGIC Investment Stock Up 0.4 %

MTG stock traded up $0.09 during trading hours on Friday, reaching $24.52. 498,804 shares of the stock were exchanged, compared to its average volume of 1,871,743. The firm’s 50-day moving average is $21.57 and its 200-day moving average is $20.68. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 7.87 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.05 and a quick ratio of 1.05. MGIC Investment Co. has a 12 month low of $16.30 and a 12 month high of $24.77.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.05. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. The firm had revenue of $294.40 million during the quarter, compared to the consensus estimate of $301.62 million. During the same period last year, the business posted $0.54 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that MGIC Investment Co. will post 2.52 earnings per share for the current 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.