As of the most recent disclosure with the Securities & Exchange Commission on September 2, 2023, William Blair Investment Management LLC has increased its ownership in MGIC Investment Co. (NYSE:MTG) by 0.3% during the first quarter. The firm now holds a total of 2,541,332 shares of MGIC Investment’s stock, having acquired an additional 7,256 shares over the quarter. With this increase, William Blair Investment Management LLC owns approximately 0.89% of MGIC Investment and its position is valued at $34,105,000.

MGIC Investment recently announced its quarterly earnings data for the period ending on August 2nd. The insurance provider reported earnings per share (EPS) of $0.68 for the quarter, surpassing analysts’ consensus estimates by $0.13 with an impressive beat. Additionally, the company generated revenue of $290.70 million during the same period, slightly lower than analyst projections of $292.51 million.

Despite a decrease of 0.8% in revenue compared to the same quarter last year, MGIC Investment showcased a robust net margin of 67.83% and a return on equity (ROE) of 17.26%. It is important to note that in the prior year’s corresponding period, the company reported higher EPS at $0.81.

Looking forward to the current fiscal year, analysts predict that MGIC Investment Co.’s EPS will reach around 2.36 on average.

Investors may consider this recent report as an opportunity to assess MGIC Investment Co.’s financial performance and prospects within their portfolio strategies based on their individual investment goals and risk tolerance levels.

Source:
https://www.marketwatch.com/story/william-blair-investment-management-llc-grows-stake-in-mgic-investment-co-mtg-2023-09-02

Recent Hedge Fund Activity and Market Analysis of MGIC Investment Co.

In recent news, various hedge funds have been actively involved in buying and selling shares of MGIC Investment Co. Raymond James Financial Services Advisors Inc., for instance, has significantly increased its stake in the insurance provider by 13.4% during the first quarter of this year. As a result of purchasing an additional 12,256 shares, the company now owns 103,446 shares of MGIC Investment’s stock valued at $1.4 million.

Similarly, HighTower Advisors LLC entered the scene and acquired a new stake in MGIC Investment worth approximately $230,000 in the first quarter. Additionally, Natixis Advisors L.P. boosted its position in the insurance provider by 42.1%, buying an extra 7,472 shares that are now valued at $342,000. MetLife Investment Management LLC was not far behind either, as they witnessed a growth of 31.3% in their holdings after adding an additional 49,361 shares during the last quarter.

Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS decided to raise their holdings by 8.8% in the first quarter through acquiring an extra 9,454 shares valued at $1.6 million.

It is interesting to note that institutional investors currently own a significant proportion (approximately 93.41%) of MGIC Investment Co.’s stock.

This has had tangible effects on the overall value of MTG stock which opened at $17.58 on Friday. Over the past twelve months, MTG stock has fluctuated between its lowest point at $12.13 and highest point at $18.25.

Key financial indicators reflect MGIC Investment’s current standing in the market: it boasts a current ratio and quick ratio of 0.66 demonstrating its ability to cover short term liabilities effectively; additionally Debt-to-equity ratio stands at a healthy level of just 0.14.

With regards to market performance, MGIC Investment demonstrates a fifty-day simple moving average of $16.72 and a two-hundred-day simple moving average of $15.10. The company’s market capitalization currently stands at an impressive figure of $4.96 billion.

In terms of investment returns, MGIC Investment Co. recently announced a quarterly dividend which was paid on August 24th, 2023 to investors who were recorded as shareholders on August 10th, 2023. Shareholders received a dividend of $0.115 per share, representing an annualized dividend of $0.46 and offering a yield of 2.62%. It is worth mentioning that this increased dividend marks an improvement from MGIC Investment’s previous quarterly payout.

Moving forward, it is crucial to consider the recommendations provided by equities analysts so as to gain further insight into the potential growth trajectory of MGIC Investment Co.’s stock value. StockNews.com has started coverage on MGIC Investment and has assigned the company with a “hold” rating.

Royal Bank of Canada (RBC) weighed in by boosting their target price on shares of MGIC Investment from $17.00 to $18.00 while maintaining a “sector perform” rating for the company’s stock.

Lastly, Compass Point also raised their price target from $18.00 to $20.00 in their research note published on August 3rd.

While three research analysts have designated the stock with a hold rating, two have issued a buy rating for MGIC Investment’s stock according to data obtained from Bloomberg.

Considering these developments and perspectives shared by industry experts, investors may be inclined to closely monitor MGIC Investment Co.’s future movements in order to make informed decisions that align with their financial goals and objectives.

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