Larson Financial Group LLC Has $1.96 Million Holdings in MGIC Investment Co. (NYSE:MTG)

Larson Financial Group LLC cut its position in shares of MGIC Investment Co. (NYSE:MTG) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,353 shares of the insurance provider’s stock after selling 4,064 shares during the quarter. Larson Financial Group LLC’s holdings in MGIC Investment were worth $1,955,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. grew its holdings in MGIC Investment by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 849 shares during the period. Planned Solutions Inc. acquired a new stake in MGIC Investment in the fourth quarter worth $66,000. Janiczek Wealth Management LLC grew its holdings in MGIC Investment by 29.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 5,572 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 1,269 shares during the period. USA Financial Formulas bought a new position in shares of MGIC Investment in the third quarter valued at $100,000. Finally, Impact Partnership Wealth LLC bought a new position in shares of MGIC Investment in the third quarter valued at $121,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MTG has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on shares of MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Roth Mkm raised their price target on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $24.00 price target (up from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.08.

MGIC Investment Stock Up 1.7 %

Shares of MTG traded up $0.34 during trading hours on Tuesday, reaching $20.31. 343,500 shares of the stock traded hands, compared to its average volume of 2,035,030. MGIC Investment Co. has a 52 week low of $13.97 and a 52 week high of $22.43. The stock has a fifty day simple moving average of $20.37 and a 200 day simple moving average of $19.07. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 1.63 and a beta of 1.24.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. The business had revenue of $284.72 million during the quarter, compared to the consensus estimate of $302.96 million. On average, equities analysts forecast that MGIC Investment Co. will post 2.43 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.