Barrow Hanley Mewhinney & Strauss LLC cut its stake in MGIC Investment Corp. (NYSE:MTG) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,383,571 shares of the insurance provider’s stock after selling 231,978 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.72% of MGIC Investment worth $79,986,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Wealthcare Advisory Partners LLC purchased a new stake in shares of MGIC Investment in the third quarter valued at approximately $107,000. Advisors Asset Management Inc. purchased a new stake in shares of MGIC Investment in the second quarter valued at approximately $121,000. Sawgrass Asset Management LLC purchased a new stake in shares of MGIC Investment in the second quarter valued at approximately $123,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of MGIC Investment in the second quarter valued at approximately $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MGIC Investment by 11.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,009 shares of the insurance provider’s stock valued at $146,000 after buying an additional 1,312 shares in the last quarter. 91.31% of the stock is owned by institutional investors.
A number of analysts have recently commented on the company. Wells Fargo & Company restated a “buy” rating on shares of MGIC Investment in a research report on Friday, December 8th. Deutsche Bank cut MGIC Investment from a “buy” rating to a “hold” rating and set a $13.50 price objective for the company. in a research report on Friday, November 3rd. Bank of America boosted their price objective on MGIC Investment from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, October 20th. MKM Partners boosted their price objective on MGIC Investment to $16.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, Barclays boosted their price objective on MGIC Investment from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, October 19th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $14.34.
Shares of MGIC Investment Corp. (MTG) opened at $14.81 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market capitalization of $5,447.33, a P/E ratio of 12.05, a P/E/G ratio of 1.43 and a beta of 2.26. MGIC Investment Corp. has a 12-month low of $9.68 and a 12-month high of $15.64.
MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.26 by $0.06. The business had revenue of $270.30 million during the quarter, compared to analysts’ expectations of $267.85 million. MGIC Investment had a return on equity of 16.41% and a net margin of 41.08%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. analysts predict that MGIC Investment Corp. will post 1.21 EPS for the current fiscal year.
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MGIC Investment Company 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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