MGIC Investment Co. (NYSE:MTG) Stock Position Raised by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lifted its position in MGIC Investment Co. (NYSE:MTG) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,173 shares of the insurance provider’s stock after buying an additional 7,290 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in MGIC Investment were worth $1,450,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MTG. Hara Capital LLC acquired a new stake in MGIC Investment in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new position in shares of MGIC Investment during the 3rd quarter valued at $33,000. UMB Bank n.a. lifted its stake in shares of 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. Brooklyn Investment Group bought a new stake in MGIC Investment in the third quarter worth $69,000. Finally, Covestor Ltd increased its position in MGIC Investment by 65.5% during the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock worth $87,000 after buying an additional 1,341 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Trading Down 0.1 %

Shares of MTG stock opened at $24.76 on Friday. The firm has a market capitalization of $6.27 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29. MGIC Investment Co. has a 1 year low of $18.68 and a 1 year high of $26.56. The firm’s fifty day simple moving average is $24.50 and its 200 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.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The company 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 firm posted $0.64 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that MGIC Investment Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MTG. Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Royal Bank of Canada lowered their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Keefe, Bruyette & Woods reduced their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays raised 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.86.

MGIC Investment Company 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.