Wealthfront Advisers LLC Takes $616,000 Position in MGIC Investment Co. (NYSE:MTG)

Wealthfront Advisers LLC purchased a new stake in MGIC Investment Co. (NYSE:MTG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 25,973 shares of the insurance provider's stock, valued at approximately $616,000.

A number of other hedge funds also recently bought and sold shares of the stock. Amundi acquired a new stake in MGIC Investment in the 4th quarter valued at about $8,914,000. Larson Financial Group LLC grew its stake in MGIC Investment by 10.5% during the 4th quarter. Larson Financial Group LLC now owns 116,544 shares of the insurance provider's stock worth $2,763,000 after buying an additional 11,112 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in MGIC Investment by 6.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider's stock worth $248,000 after buying an additional 608 shares during the last quarter. EagleClaw Capital Managment LLC grew its stake in MGIC Investment by 2.7% during the 4th quarter. EagleClaw Capital Managment LLC now owns 57,800 shares of the insurance provider's stock worth $1,370,000 after buying an additional 1,500 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of MGIC Investment in the 4th quarter valued at approximately $1,740,000. Institutional investors and hedge funds own 95.58% of the company's stock.

Insider Transactions at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the transaction, the chief accounting officer now directly owns 75,070 shares of the company's stock, valued at $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.05% of the company's stock.

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Wall Street Analyst Weigh In

MTG has been the topic of several analyst reports. Compass Point reiterated a "neutral" rating and issued a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods lowered their target price on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a research note on Wednesday, January 8th. Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and decreased their price target for the company from $26.00 to $25.00 in a research note on Monday, December 9th. UBS Group lifted their price target on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Barclays lifted their price target on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, MGIC Investment currently has a consensus rating of "Hold" and an average target price of $26.75.

MGIC Investment Price Performance

MTG stock traded up $0.28 during midday trading on Thursday, hitting $23.69. 2,813,934 shares of the stock were exchanged, compared to its average volume of 1,639,699. The stock's 50-day moving average price is $24.27 and its 200-day moving average price is $24.71. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 8.17 and a beta of 1.28. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. Research analysts predict that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.20%. MGIC Investment's dividend payout ratio (DPR) is 17.93%.

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.