MGIC Investment Co. (NYSE:MTG) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC cut its stake in MGIC Investment Co. (NYSE:MTG) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,353 shares of the insurance provider’s stock after selling 4,064 shares during the quarter. Larson Financial Group LLC’s holdings in MGIC Investment were worth $1,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MTG. Impact Partnership Wealth LLC acquired a new stake in shares of MGIC Investment during the 3rd quarter worth about $121,000. Exchange Traded Concepts LLC acquired a new stake in shares of MGIC Investment during the 3rd quarter worth about $1,474,000. Counterpoint Mutual Funds LLC raised 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 worth $245,000 after acquiring an additional 6,603 shares in the last quarter. Measured Wealth Private Client Group LLC raised 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 worth $930,000 after acquiring an additional 2,012 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in MGIC Investment during the third quarter worth approximately $238,000. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Performance

Shares of NYSE:MTG traded up $0.34 during trading on Tuesday, reaching $20.31. The company had a trading volume of 343,500 shares, compared to its average volume of 2,035,030. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 8.02, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s fifty day moving average price is $20.37 and its 200 day moving average price is $19.07. MGIC Investment Co. has a fifty-two week low of $13.97 and a fifty-two week high of $22.43.

MGIC Investment (NYSE:MTG) last released its earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $302.96 million. As a group, equities research analysts predict that MGIC Investment Co. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

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

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.