Assenagon Asset Management S.A. Makes New Investment in MGIC Investment Co. (NYSE:MTG)

Assenagon Asset Management S.A. acquired 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 Form 13F filing with the Securities and Exchange Commission. The fund acquired 352,684 shares of the insurance provider's stock, valued at approximately $8,362,000. Assenagon Asset Management S.A. owned about 0.14% of MGIC Investment as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC boosted its holdings in MGIC Investment by 5.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 54,007 shares of the insurance provider's stock valued at $1,164,000 after purchasing an additional 2,678 shares during the period. XTX Topco Ltd bought a new stake in shares of MGIC Investment in the second quarter valued at about $753,000. Intech Investment Management LLC acquired a new stake in MGIC Investment during the second quarter worth about $231,000. Pacer Advisors Inc. grew its position in MGIC Investment by 16.1% during the second quarter. Pacer Advisors Inc. now owns 72,642 shares of the insurance provider's stock worth $1,565,000 after buying an additional 10,088 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in MGIC Investment by 3.9% during the second quarter. Ensign Peak Advisors Inc now owns 147,039 shares of the insurance provider's stock valued at $3,169,000 after acquiring an additional 5,560 shares during the period. Institutional investors own 95.58% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MTG shares. Keefe, Bruyette & Woods decreased their price objective on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada reduced their target price on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Wednesday, November 6th. Barclays boosted their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, October 8th. Finally, Bank of America downgraded shares of MGIC Investment from a "buy" rating to an "underperform" rating and reduced their price objective for the stock from $26.00 to $25.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $25.86.

MGIC Investment Price Performance

Shares of NYSE MTG traded up $0.14 during midday trading on Monday, reaching $24.48. 1,954,303 shares of the company traded hands, compared to its average volume of 1,449,867. MGIC Investment Co. has a 12 month low of $18.68 and a 12 month 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 1.25. The stock's 50-day simple moving average is $24.51 and its 200-day simple moving average is $24.51. The firm has a market cap of $6.20 billion, a PE ratio of 8.62, a PEG ratio of 1.72 and a beta of 1.29.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.11. The firm had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. As a group, equities analysts anticipate that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 2.12%. MGIC Investment's dividend payout ratio (DPR) is presently 18.31%.

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.