Exchange Traded Concepts LLC Has $2.97 Million Holdings in MGIC Investment Co. (NYSE:MTG)

Exchange Traded Concepts LLC lifted its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,070 shares of the insurance provider's stock after buying an additional 11,108 shares during the period. Exchange Traded Concepts LLC's holdings in MGIC Investment were worth $2,965,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp boosted its position in MGIC Investment by 0.8% during the 3rd quarter. State Street Corp now owns 9,092,453 shares of the insurance provider's stock worth $232,767,000 after acquiring an additional 73,851 shares during the period. Franklin Resources Inc. boosted its holdings in shares of MGIC Investment by 6.5% during the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock worth $41,836,000 after purchasing an additional 98,369 shares during the period. Vest Financial LLC boosted its holdings in shares of MGIC Investment by 3.7% during the third quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider's stock worth $28,499,000 after purchasing an additional 39,502 shares during the period. Mackenzie Financial Corp grew its position in MGIC Investment by 2.9% during the second quarter. Mackenzie Financial Corp now owns 879,674 shares of the insurance provider's stock valued at $18,957,000 after purchasing an additional 24,627 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in MGIC Investment in the 3rd quarter valued at approximately $13,535,000. Hedge funds and other institutional investors own 95.58% of the company's stock.

Wall Street Analysts Forecast Growth

MTG has been the topic of several research analyst reports. Bank of America cut shares of MGIC Investment from a "buy" rating to an "underperform" rating and lowered their price target for the company from $26.00 to $25.00 in a report on Monday, December 9th. Royal Bank of Canada lowered their target price on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 6th. Barclays upped their target price on MGIC Investment from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reduced their price target on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a report on Wednesday, January 8th. One equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $25.86.

MGIC Investment Stock Down 0.1 %

Shares of MTG traded down $0.04 during trading hours on Friday, hitting $24.76. 1,298,567 shares of the company were exchanged, compared to its average volume of 1,296,326. The firm's 50 day moving average is $24.49 and its 200-day moving average is $24.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. MGIC Investment Co. has a 52 week low of $18.68 and a 52 week high of $26.56. The company has a market cap of $6.27 billion, a PE ratio of 8.72, a PEG ratio of 1.85 and a beta of 1.29.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.66 by $0.11. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The company had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. During the same quarter last year, the company posted $0.64 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that MGIC Investment Co. will post 2.85 EPS for the current fiscal year.

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.