Norges Bank Invests $85.91 Million in MGIC Investment Co. (NYSE:MTG)

Norges Bank bought a new position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,623,292 shares of the insurance provider's stock, valued at approximately $85,908,000. Norges Bank owned 1.43% of MGIC Investment at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Allianz Asset Management GmbH increased its holdings in shares of MGIC Investment by 8.2% during the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock worth $130,289,000 after buying an additional 415,586 shares in the last quarter. Amundi bought a new stake in MGIC Investment during the 4th quarter worth approximately $8,914,000. Vest Financial LLC raised its position in MGIC Investment by 33.4% in the 4th quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider's stock valued at $35,213,000 after purchasing an additional 371,882 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in MGIC Investment in the fourth quarter worth $8,362,000. Finally, Barclays PLC grew its holdings in shares of MGIC Investment by 75.1% during the third quarter. Barclays PLC now owns 457,706 shares of the insurance provider's stock worth $11,716,000 after purchasing an additional 196,252 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

Analyst Ratings Changes

MTG has been the subject of a number of research analyst reports. Compass Point reaffirmed a "neutral" rating and issued a $27.00 price target (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their target price on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a research note on Wednesday, January 8th. Bank of America cut shares of 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. Barclays boosted their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Finally, UBS Group increased their price objective on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $26.75.

MGIC Investment Trading Down 2.8 %

MTG traded down $0.65 during trading on Monday, reaching $22.50. 2,635,485 shares of the company's stock were exchanged, compared to its average volume of 1,787,921. The company's fifty day moving average price is $24.27 and its 200-day moving average price is $24.63. The firm has a market capitalization of $5.46 billion, a PE ratio of 7.76 and a beta of 0.93. 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 released its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. As a group, equities analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were given a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.31%. MGIC Investment's dividend payout ratio is presently 17.93%.

Insider Buying and Selling

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.05% of the stock is owned by company insiders.

About MGIC Investment

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.