MGIC Investment Corp. (MTG) Shares Bought by Boston Partners

Boston Partners lifted its holdings in shares of MGIC Investment Corp. (NYSE:MTG) by 14.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,615,367 shares of the insurance provider’s stock after acquiring an additional 203,837 shares during the period. Boston Partners’ holdings in MGIC Investment were worth $21,307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its position in MGIC Investment by 2.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 33,240 shares of the insurance provider’s stock worth $348,000 after buying an additional 844 shares during the period. Martingale Asset Management L P increased its position in MGIC Investment by 0.5% during the fourth quarter. Martingale Asset Management L P now owns 243,253 shares of the insurance provider’s stock worth $2,545,000 after buying an additional 1,207 shares during the period. Gateway Investment Advisers LLC increased its position in MGIC Investment by 2.2% during the fourth quarter. Gateway Investment Advisers LLC now owns 65,735 shares of the insurance provider’s stock worth $688,000 after buying an additional 1,396 shares during the period. Advisor Group Inc. increased its position in MGIC Investment by 16.5% during the fourth quarter. Advisor Group Inc. now owns 10,777 shares of the insurance provider’s stock worth $111,000 after buying an additional 1,526 shares during the period. Finally, Graybill Bartz & Assoc Ltd. increased its position in MGIC Investment by 0.5% during the first quarter. Graybill Bartz & Assoc Ltd. now owns 324,718 shares of the insurance provider’s stock worth $4,283,000 after buying an additional 1,770 shares during the period. 94.06% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on the company. ValuEngine lowered MGIC Investment from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Zacks Investment Research lowered MGIC Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.81.

MTG opened at $13.58 on Tuesday. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 1.69 and a beta of 1.81. MGIC Investment Corp. has a 52 week low of $9.41 and a 52 week high of $14.97. The company has a current ratio of 0.37, a quick ratio of 0.27 and a debt-to-equity ratio of 0.22.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Tuesday, April 23rd. The insurance provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $291.65 million for the quarter, compared to analyst estimates of $286.01 million. MGIC Investment had a return on equity of 19.06% and a net margin of 59.01%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. Equities analysts predict that MGIC Investment Corp. will post 1.66 earnings per share for the current fiscal year.

MGIC Investment declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 20th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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MGIC Investment 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 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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