A&I Financial Services LLC Takes Position in MGIC Investment Co. (NYSE:MTG)

A&I Financial Services LLC bought a new stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,160 shares of the insurance provider's stock, valued at approximately $454,000.

Several other hedge funds have also bought and sold shares of MTG. Franklin Resources Inc. raised its stake in shares of MGIC Investment by 6.5% in the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock worth $41,836,000 after buying an additional 98,369 shares during the period. GSA Capital Partners LLP increased its holdings in MGIC Investment by 154.1% in the 3rd quarter. GSA Capital Partners LLP now owns 96,732 shares of the insurance provider's stock worth $2,476,000 after acquiring an additional 58,664 shares in the last quarter. Vestcor Inc raised its stake in MGIC Investment by 559.3% during the 3rd quarter. Vestcor Inc now owns 60,094 shares of the insurance provider's stock worth $1,538,000 after acquiring an additional 50,979 shares during the period. Ritholtz Wealth Management lifted its holdings in MGIC Investment by 13.4% during the fourth quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider's stock valued at $2,174,000 after purchasing an additional 10,864 shares in the last quarter. Finally, Hancock Whitney Corp bought a new position in shares of MGIC Investment in the third quarter worth approximately $777,000. Institutional investors own 95.58% of the company's stock.

Insider Buying and Selling

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm'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 completion of the sale, the chief accounting officer now directly owns 75,070 shares of the company's stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.05% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

Several analysts have recently commented on MTG shares. Royal Bank of Canada decreased their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods lowered their price objective on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a research report on Wednesday, January 8th. UBS Group increased their target price on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Barclays boosted their price target on MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Finally, Bank of America lowered shares of MGIC Investment from a "buy" rating to an "underperform" rating and cut their price objective for the company from $26.00 to $25.00 in a report on Monday, December 9th. One 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $26.75.

MGIC Investment Price Performance

Shares of MTG traded down $0.07 during mid-day trading on Monday, hitting $24.54. 1,379,979 shares of the stock were exchanged, compared to its average volume of 1,717,464. 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 company has a market cap of $5.96 billion, a PE ratio of 8.46 and a beta of 1.29. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56. The firm has a 50-day moving average of $24.37 and a two-hundred day moving average of $24.83.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly 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 analysts predict that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, February 18th. MGIC Investment's payout ratio is 17.93%.

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.