Advisory Research Inc. Grows Position in MGIC Investment Co. (NYSE:MTG)

Advisory Research Inc. lifted its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 25.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 605,467 shares of the insurance provider's stock after buying an additional 124,727 shares during the quarter. MGIC Investment comprises 2.4% of Advisory Research Inc.'s portfolio, making the stock its 11th biggest holding. Advisory Research Inc. owned about 0.24% of MGIC Investment worth $14,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MTG. LSV Asset Management lifted its stake in shares of MGIC Investment by 2.3% during the fourth quarter. LSV Asset Management now owns 10,578,342 shares of the insurance provider's stock valued at $250,812,000 after acquiring an additional 235,916 shares during the period. Allianz Asset Management GmbH lifted its position in 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 during the period. Invesco Ltd. grew its holdings in MGIC Investment by 16.6% during the 4th quarter. Invesco Ltd. now owns 4,766,195 shares of the insurance provider's stock worth $113,006,000 after acquiring an additional 677,227 shares during the period. Norges Bank bought a new stake in MGIC Investment in the fourth quarter valued at about $85,908,000. Finally, NewEdge Wealth LLC increased its stake in shares of MGIC Investment by 11.6% in the 4th quarter. NewEdge Wealth LLC now owns 1,837,821 shares of the insurance provider's stock valued at $43,575,000 after acquiring an additional 190,450 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MTG shares. Compass Point reiterated a "neutral" rating and issued a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Barclays raised their price objective on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. UBS Group lifted their target price 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 lowered their price target 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, April 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $26.50.

MGIC Investment Stock Performance

Shares of MTG traded up $0.19 during mid-day trading on Friday, hitting $24.03. The stock had a trading volume of 1,681,155 shares, compared to its average volume of 1,804,171. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The firm has a market cap of $5.83 billion, a P/E ratio of 8.28 and a beta of 0.93. MGIC Investment Co. has a 52 week low of $19.81 and a 52 week high of $26.56. The business has a fifty day moving average price of $23.90 and a 200-day moving average price of $24.50.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. On average, equities research analysts expect that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment's payout ratio is 17.93%.

Insider Activity

In other news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the transaction, the chief accounting officer now directly owns 75,070 shares in the company, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.41% of the company's stock.

MGIC Investment 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.