Foster & Motley Inc. Purchases 39,622 Shares of MGIC Investment Co. (NYSE:MTG)

Foster & Motley Inc. increased its position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 25.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 193,902 shares of the insurance provider's stock after acquiring an additional 39,622 shares during the period. Foster & Motley Inc. owned approximately 0.07% of MGIC Investment worth $3,740,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC grew its holdings in MGIC Investment by 4.0% during the fourth quarter. Signaturefd LLC now owns 22,162 shares of the insurance provider's stock worth $428,000 after acquiring an additional 862 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MGIC Investment by 47.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 100,258 shares of the insurance provider's stock worth $1,934,000 after purchasing an additional 32,450 shares in the last quarter. DGS Capital Management LLC increased its stake in MGIC Investment by 2.2% in the 4th quarter. DGS Capital Management LLC now owns 64,895 shares of the insurance provider's stock worth $1,252,000 after purchasing an additional 1,417 shares in the last quarter. Mackenzie Financial Corp increased its stake in MGIC Investment by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 908,046 shares of the insurance provider's stock worth $17,516,000 after purchasing an additional 44,259 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in MGIC Investment in the 4th quarter worth about $1,503,000. 95.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MTG. Roth Mkm lifted their price target on MGIC Investment from $21.00 to $24.00 and gave the stock a "buy" rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $24.00 price target (up previously from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Finally, Royal Bank of Canada lifted their price target on MGIC Investment from $18.00 to $21.00 and gave the stock a "sector perform" rating in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, MGIC Investment has a consensus rating of "Hold" and an average target price of $21.08.

MGIC Investment Stock Up 1.7 %

NYSE:MTG traded up $0.34 on Tuesday, hitting $20.31. 1,224,208 shares of the company's stock traded hands, compared to its average volume of 2,046,719. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. MGIC Investment Co. has a 1 year low of $13.97 and a 1 year high of $22.43. The firm has a 50-day moving average price of $20.39 and a 200-day moving average price of $19.09. The company has a market cap of $5.48 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24.

MGIC Investment (NYSE:MTG - Get Free Report) last released its earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. The company had revenue of $284.72 million for the quarter, compared to analysts' expectations of $302.96 million. Equities analysts anticipate that MGIC Investment Co. will post 2.43 EPS for the current fiscal year.

MGIC Investment Company 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.