TrimTabs Asset Management LLC grew its holdings in MGIC Investment Corp. (NYSE:MTG) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,051 shares of the insurance provider’s stock after purchasing an additional 5,201 shares during the period. TrimTabs Asset Management LLC’s holdings in MGIC Investment were worth $1,438,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in MGIC Investment by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,474,258 shares of the insurance provider’s stock valued at $32,928,000 after acquiring an additional 37,060 shares during the period. Baird Financial Group Inc. raised its stake in MGIC Investment by 9.5% during the 3rd quarter. Baird Financial Group Inc. now owns 67,372 shares of the insurance provider’s stock valued at $883,000 after buying an additional 5,849 shares during the last quarter. GAM Holding AG purchased a new stake in MGIC Investment during the 3rd quarter valued at $549,000. JPMorgan Chase & Co. lifted its holdings in shares of MGIC Investment by 1.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,246 shares of the insurance provider’s stock valued at $17,253,000 after buying an additional 22,358 shares during the period. Finally, First Republic Investment Management Inc. bought a new position in shares of MGIC Investment during the 3rd quarter valued at $361,000. Hedge funds and other institutional investors own 94.08% of the company’s stock.

NYSE MTG traded down $0.48 on Tuesday, hitting $13.65. 3,111,965 shares of the company traded hands, compared to its average volume of 2,470,198. The company has a market capitalization of $5.03 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 1.76 and a beta of 1.79. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.27 and a current ratio of 0.27. MGIC Investment Corp. has a 52-week low of $9.41 and a 52-week high of $14.14.

MGIC Investment (NYSE:MTG) last released its earnings results on Thursday, January 17th. The insurance provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $285.60 million for the quarter, compared to analysts’ expectations of $286.42 million. MGIC Investment had a net margin of 59.63% and a return on equity of 19.64%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 EPS. On average, sell-side analysts forecast that MGIC Investment Corp. will post 1.58 EPS for the current year.

MGIC Investment declared that its Board of Directors has authorized a share buyback plan on Wednesday, March 20th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the insurance provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

MTG has been the subject of a number of research reports. ValuEngine upgraded MGIC Investment from a “sell” rating to a “hold” rating in a research report on Tuesday, February 19th. Barclays set a $14.00 target price on MGIC Investment and gave the stock a “buy” rating in a research report on Friday, December 14th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $18.00 price target on shares of MGIC Investment in a research note on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. MGIC Investment has an average rating of “Buy” and an average price target of $15.95.

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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 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.

Further Reading: Quick Ratio

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Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

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