OxFORD Asset Management LLP trimmed its position in shares of MGIC Investment Corporation (NYSE:MTG) by 25.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,206 shares of the insurance provider’s stock after selling 34,741 shares during the period. OxFORD Asset Management LLP’s holdings in MGIC Investment Corporation were worth $1,167,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new stake in MGIC Investment Corporation in the 2nd quarter valued at $116,000. Appleton Group LLC acquired a new stake in MGIC Investment Corporation in the 2nd quarter valued at $119,000. Advisors Asset Management Inc. acquired a new stake in MGIC Investment Corporation in the 2nd quarter valued at $121,000. Sawgrass Asset Management LLC acquired a new stake in MGIC Investment Corporation in the 2nd quarter valued at $123,000. Finally, Eagle Global Advisors LLC acquired a new stake in MGIC Investment Corporation in the 2nd quarter valued at $146,000. Institutional investors and hedge funds own 89.58% of the company’s stock.
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MTG has been the subject of several recent research reports. Deutsche Bank AG increased their price target on MGIC Investment Corporation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, July 21st. BTIG Research reiterated a “buy” rating and issued a $14.00 price target (up from $12.00) on shares of MGIC Investment Corporation in a report on Saturday, July 22nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $13.00 price target on shares of MGIC Investment Corporation in a report on Thursday, August 31st. Zacks Investment Research upgraded MGIC Investment Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday, August 22nd. Finally, BidaskClub downgraded MGIC Investment Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. MGIC Investment Corporation currently has an average rating of “Buy” and a consensus price target of $12.25.
Shares of MGIC Investment Corporation (MTG) opened at 12.64 on Friday. MGIC Investment Corporation has a one year low of $7.94 and a one year high of $12.73. The company has a 50-day moving average price of $11.86 and a 200 day moving average price of $11.23. The firm has a market capitalization of $4.68 billion, a P/E ratio of 13.02 and a beta of 2.16.
MGIC Investment Corporation (NYSE:MTG) last announced its earnings results on Thursday, July 20th. The insurance provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.25 by $0.06. The firm had revenue of $263.31 million for the quarter, compared to the consensus estimate of $263.43 million. MGIC Investment Corporation had a net margin of 34.99% and a return on equity of 16.56%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. Analysts expect that MGIC Investment Corporation will post $1.14 earnings per share for the current fiscal year.
MGIC Investment Corporation Profile
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.
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