Blue Trust Inc. Has $363,000 Stake in MGIC Investment Co. (NYSE:MTG)

Blue Trust Inc. increased its position in MGIC Investment Co. (NYSE:MTG) by 184.2% during the third quarter, Holdings Channel.com reports. The firm owned 14,169 shares of the insurance provider’s stock after buying an additional 9,184 shares during the quarter. Blue Trust Inc.’s holdings in MGIC Investment were worth $363,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Nations Financial Group Inc. IA ADV lifted its stake in shares of MGIC Investment by 1.6% in the second quarter. Nations Financial Group Inc. IA ADV now owns 35,306 shares of the insurance provider’s stock valued at $761,000 after buying an additional 565 shares in the last quarter. Fortem Financial Group LLC lifted its position in MGIC Investment by 1.0% in the 2nd quarter. Fortem Financial Group LLC now owns 75,447 shares of the insurance provider’s stock valued at $1,626,000 after acquiring an additional 747 shares in the last quarter. Versant Capital Management Inc boosted its stake in MGIC Investment by 482.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 946 shares during the last quarter. QRG Capital Management Inc. increased its holdings in MGIC Investment by 7.7% during the 2nd quarter. QRG Capital Management Inc. now owns 15,152 shares of the insurance provider’s stock worth $327,000 after purchasing an additional 1,081 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of MGIC Investment by 41.7% in the third quarter. GAMMA Investing LLC now owns 4,352 shares of the insurance provider’s stock worth $111,000 after purchasing an additional 1,281 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BTIG Research lifted their target price on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays lifted their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Finally, Roth Mkm increased their target price on shares of MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, MGIC Investment presently has a consensus rating of “Moderate Buy” and an average target price of $24.50.

MGIC Investment Stock Up 0.1 %

MTG stock opened at $25.41 on Thursday. The stock has a market cap of $6.77 billion, a P/E ratio of 9.77, a P/E/G ratio of 1.35 and a beta of 1.28. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $25.20 and its two-hundred day simple moving average is $22.84. MGIC Investment Co. has a 1-year low of $16.32 and a 1-year high of $26.52.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The company had revenue of $305.28 million for the quarter, compared to the consensus estimate of $301.02 million. During the same period in the previous year, the firm earned $0.68 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts expect that MGIC Investment Co. will post 2.76 EPS for the current year.

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 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.