Integrated Quantitative Investments LLC Purchases New Holdings in MGIC Investment Co. (NYSE:MTG)

Integrated Quantitative Investments LLC acquired a new stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 33,600 shares of the insurance provider's stock, valued at approximately $797,000.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in MGIC Investment by 0.8% in the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider's stock worth $232,767,000 after buying an additional 73,851 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of MGIC Investment by 8.2% during the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock valued at $130,289,000 after purchasing an additional 415,586 shares in the last quarter. Norges Bank acquired a new stake in shares of MGIC Investment in the 4th quarter valued at $85,908,000. NewEdge Wealth LLC increased its position in MGIC Investment by 11.6% during the fourth quarter. NewEdge Wealth LLC now owns 1,837,821 shares of the insurance provider's stock worth $43,575,000 after buying an additional 190,450 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in MGIC Investment by 1.6% during the fourth quarter. Franklin Resources Inc. now owns 1,647,936 shares of the insurance provider's stock valued at $39,072,000 after buying an additional 26,098 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

Analysts Set New Price Targets

MTG has been the topic of a number of analyst reports. Barclays increased their price objective on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Compass Point reissued a "neutral" rating and issued a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. UBS Group upped their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, MGIC Investment currently has an average rating of "Hold" and a consensus price target of $26.50.

Insiders Place Their Bets

In other news, CAO Julie K. Sperber sold 4,600 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now owns 75,070 shares of the company's stock, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.05% of the company's stock.

MGIC Investment Stock Performance

Shares of MTG traded down $0.87 during trading hours on Thursday, reaching $23.02. 614,741 shares of the company traded hands, compared to its average volume of 2,294,932. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The stock's fifty day moving average is $24.08 and its 200 day moving average is $24.57. MGIC Investment Co. has a 1-year low of $19.26 and a 1-year high of $26.56. The stock has a market cap of $5.58 billion, a P/E ratio of 7.94 and a beta of 0.93.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating 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%. Equities research analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.26%. The ex-dividend date was Tuesday, February 18th. MGIC Investment's dividend payout ratio (DPR) is presently 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.