Aspiriant LLC Takes Position in MGIC Investment Corporation (MTG)

Aspiriant LLC purchased a new position in shares of MGIC Investment Corporation (NYSE:MTG) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 11,000 shares of the company’s stock, valued at approximately $112,000.

Several other large investors have also added to or reduced their stakes in MTG. Rhumbline Advisers increased its position in shares of MGIC Investment Corporation by 2.1% in the third quarter. Rhumbline Advisers now owns 462,879 shares of the company’s stock valued at $3,703,000 after buying an additional 9,488 shares in the last quarter. Calvert Investment Management Inc. increased its position in shares of MGIC Investment Corporation by 11.2% in the second quarter. Calvert Investment Management Inc. now owns 26,919 shares of the company’s stock valued at $160,000 after buying an additional 2,718 shares in the last quarter. Amalgamated Bank increased its position in shares of MGIC Investment Corporation by 3.1% in the second quarter. Amalgamated Bank now owns 37,262 shares of the company’s stock valued at $272,000 after buying an additional 1,106 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of MGIC Investment Corporation by 1.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 246,562 shares of the company’s stock valued at $1,467,000 after buying an additional 3,142 shares in the last quarter. Finally, Three Corner Global Investors LP purchased a new position in shares of MGIC Investment Corporation during the second quarter valued at approximately $14,197,000. Institutional investors own 90.48% of the company’s stock.

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

MGIC Investment Corporation (NYSE:MTG) traded up 0.54% during midday trading on Monday, reaching $11.26. 6,228,452 shares of the company’s stock traded hands. The firm has a market cap of $3.84 billion, a PE ratio of 13.11 and a beta of 2.52. MGIC Investment Corporation has a 52-week low of $5.36 and a 52-week high of $11.30. The firm’s 50-day moving average is $10.53 and its 200 day moving average is $8.91.

MGIC Investment Corporation (NYSE:MTG) last issued its earnings results on Thursday, January 19th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.06. MGIC Investment Corporation had a net margin of 32.24% and a return on equity of 15.98%. The firm earned $266.50 million during the quarter, compared to analyst estimates of $264.69 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. MGIC Investment Corporation’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities research analysts expect that MGIC Investment Corporation will post $1.00 earnings per share for the current fiscal year.

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Several brokerages have commented on MTG. FBR & Co boosted their price objective on shares of MGIC Investment Corporation from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Monday. Zacks Investment Research cut shares of MGIC Investment Corporation from a “buy” rating to a “hold” rating in a research note on Friday. Credit Suisse Group set a $10.00 target price on shares of MGIC Investment Corporation and gave the stock a “hold” rating in a research note on Wednesday, February 8th. BTIG Research reaffirmed a “buy” rating and set a $12.00 target price on shares of MGIC Investment Corporation in a research note on Sunday, January 22nd. Finally, Barclays PLC reaffirmed a “buy” rating and set a $13.00 target price on shares of MGIC Investment Corporation in a research note on Monday, January 9th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $11.28.

About MGIC Investment Corporation

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.

5 Day Chart for NYSE:MTG

Want to see what other hedge funds are holding MTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGIC Investment Corporation (NYSE:MTG).

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