Schwab Charles Investment Management Inc. increased its position in MGIC Investment Corp. (NYSE:MTG) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,664,350 shares of the insurance provider’s stock after acquiring an additional 93,179 shares during the period. Schwab Charles Investment Management Inc.’s holdings in MGIC Investment were worth $37,594,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in shares of MGIC Investment by 13.3% in the second quarter. PNC Financial Services Group Inc. now owns 25,800 shares of the insurance provider’s stock worth $288,000 after acquiring an additional 3,020 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of MGIC Investment by 10.3% in the second quarter. Ameritas Investment Partners Inc. now owns 32,517 shares of the insurance provider’s stock worth $364,000 after acquiring an additional 3,036 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of MGIC Investment by 125.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,190 shares of the insurance provider’s stock worth $101,000 after acquiring an additional 4,000 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in shares of MGIC Investment by 3.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 114,742 shares of the insurance provider’s stock worth $1,438,000 after acquiring an additional 4,229 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in shares of MGIC Investment by 11.6% in the third quarter. Pacer Advisors Inc. now owns 57,499 shares of the insurance provider’s stock worth $720,000 after acquiring an additional 5,975 shares during the period. 92.24% of the stock is owned by institutional investors.

Shares of MGIC Investment Corp. (NYSE:MTG) opened at $14.01 on Friday. MGIC Investment Corp. has a fifty-two week low of $9.68 and a fifty-two week high of $16.21. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $5,190.00, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.44 and a beta of 2.28.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.16. MGIC Investment had a return on equity of 17.70% and a net margin of 33.37%. The business had revenue of $271.50 million during the quarter, compared to analyst estimates of $273.66 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. MGIC Investment’s revenue for the quarter was up 1.9% on a year-over-year basis. equities research analysts expect that MGIC Investment Corp. will post 1.44 EPS for the current fiscal year.

Several analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and issued a $19.00 price objective on shares of MGIC Investment in a report on Thursday, January 18th. Wells Fargo & Co reaffirmed a “buy” rating on shares of MGIC Investment in a report on Friday, December 8th. ValuEngine raised MGIC Investment from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. BTIG Research lifted their price objective on MGIC Investment from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. Finally, Royal Bank of Canada assumed coverage on MGIC Investment in a report on Wednesday, December 20th. They issued an “outperform” rating and a $18.00 price objective for the company. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. MGIC Investment has a consensus rating of “Buy” and an average target price of $16.10.

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About MGIC Investment

MGIC Investment Corporation is a holding company. The Company, through its subsidiaries, provides private mortgage insurance and ancillary services. The Company provides mortgage insurance to lenders throughout the United States and to government-sponsored entities to protect against loss from defaults on low down payment residential mortgage loans.

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

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