MCF Advisors LLC Sells 35,134 Shares of MGIC Investment Co. (NYSE:MTG)

MCF Advisors LLC reduced its position in MGIC Investment Co. (NYSE:MTG) by 93.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,359 shares of the insurance provider’s stock after selling 35,134 shares during the period. MCF Advisors LLC’s holdings in MGIC Investment were worth $46,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of MGIC Investment by 49.2% during the fourth quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock valued at $50,000 after buying an additional 849 shares during the period. Planned Solutions Inc. bought a new stake in shares of MGIC Investment during the fourth quarter valued at about $66,000. Janiczek Wealth Management LLC increased its position in shares of MGIC Investment by 29.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 5,572 shares of the insurance provider’s stock valued at $107,000 after buying an additional 1,269 shares during the period. USA Financial Formulas bought a new stake in shares of MGIC Investment during the third quarter valued at about $100,000. Finally, Impact Partnership Wealth LLC bought a new position in shares of MGIC Investment in the third quarter worth approximately $121,000. 95.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Roth Mkm upped their price objective on shares of MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $24.00 price objective (up from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Finally, Royal Bank of Canada upped their price objective on shares of 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, MGIC Investment presently has a consensus rating of “Hold” and a consensus target price of $21.08.

MGIC Investment Stock Up 0.7 %

Shares of MTG opened at $19.98 on Tuesday. The firm has a market cap of $5.39 billion, a P/E ratio of 8.02, a P/E/G ratio of 1.63 and a beta of 1.24. The stock has a 50 day simple moving average of $20.37 and a two-hundred day simple moving average of $19.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. MGIC Investment Co. has a 1 year low of $13.97 and a 1 year high of $22.43.

MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $284.72 million during the quarter, compared to analyst estimates of $302.96 million. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. On average, analysts forecast that MGIC Investment Co. will post 2.43 earnings per share for the current fiscal year.

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 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.