United Services Automobile Association increased its position in MGIC Investment Corp. (NYSE:MTG) by 110.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,201,715 shares of the insurance provider’s stock after purchasing an additional 630,910 shares during the period. United Services Automobile Association owned approximately 0.33% of MGIC Investment worth $15,995,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MTG. Pillar Pacific Capital Management LLC bought a new position in shares of MGIC Investment in the 2nd quarter worth $116,000. Point72 Hong Kong Ltd bought a new position in MGIC Investment during the 2nd quarter valued at $149,000. Eqis Capital Management Inc. bought a new position in MGIC Investment during the 2nd quarter valued at $153,000. Gideon Capital Advisors Inc. bought a new position in MGIC Investment during the 2nd quarter valued at $164,000. Finally, Janney Montgomery Scott LLC lifted its stake in MGIC Investment by 70.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 20,066 shares of the insurance provider’s stock valued at $215,000 after acquiring an additional 8,304 shares in the last quarter. Institutional investors own 91.74% of the company’s stock.

Several equities analysts have weighed in on MTG shares. ValuEngine cut MGIC Investment from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Royal Bank of Canada reissued a “hold” rating and issued a $14.00 price objective on shares of MGIC Investment in a report on Sunday, October 21st. Susquehanna Bancshares set a $17.00 price objective on MGIC Investment and gave the stock a “buy” rating in a report on Thursday, October 18th. Compass Point lifted their target price on MGIC Investment from $14.50 to $16.50 and gave the company a “buy” rating in a report on Monday, October 22nd. Finally, Bank of America lifted their target price on MGIC Investment from $13.00 to $23.00 and gave the company an “underperform” rating in a report on Monday, August 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $16.04.

Shares of MTG opened at $11.23 on Friday. The stock has a market cap of $4.05 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 1.29 and a beta of 1.77. MGIC Investment Corp. has a 12-month low of $9.97 and a 12-month high of $16.21. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.24.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, October 17th. The insurance provider reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.13. MGIC Investment had a return on equity of 20.48% and a net margin of 48.63%. The firm had revenue of $290.50 million during the quarter, compared to the consensus estimate of $274.36 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. On average, equities analysts forecast that MGIC Investment Corp. will post 1.74 earnings per share for the current year.

In other news, Director Michael E. Lehman purchased 7,000 shares of the business’s stock in a transaction on Friday, October 26th. The stock was acquired at an average price of $11.70 per share, for a total transaction of $81,900.00. Following the acquisition, the director now directly owns 29,989 shares of the company’s stock, valued at approximately $350,871.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.01% of the company’s stock.

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MGIC Investment Company Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance 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.

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

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