Asset Management One Co. Ltd. Grows Position in MGIC Investment Co. (NYSE:MTG)

Asset Management One Co. Ltd. boosted its stake in MGIC Investment Co. (NYSE:MTG - Free Report) by 311.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 66,493 shares of the insurance provider's stock after purchasing an additional 50,316 shares during the period. Asset Management One Co. Ltd.'s holdings in MGIC Investment were worth $1,575,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MTG. Hara Capital LLC acquired a new stake in MGIC Investment in the 3rd quarter valued at approximately $25,000. UMB Bank n.a. grew its stake in shares of MGIC Investment by 131.9% in the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock worth $39,000 after acquiring an additional 938 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of MGIC Investment in the third quarter worth $69,000. Covestor Ltd grew its stake in shares of MGIC Investment by 65.5% in the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider's stock worth $87,000 after acquiring an additional 1,341 shares in the last quarter. Finally, CWM LLC grew its stake in shares of MGIC Investment by 116.1% in the third quarter. CWM LLC now owns 5,495 shares of the insurance provider's stock worth $141,000 after acquiring an additional 2,952 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MTG shares. UBS Group lifted their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a research report on Wednesday, January 8th. Barclays lifted 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. Bank of America cut shares of MGIC Investment from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Finally, Royal Bank of Canada reduced their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $26.75.

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Insiders Place Their Bets

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the sale, the chief accounting officer now owns 75,070 shares of the company's stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is currently owned by company insiders.

MGIC Investment Stock Performance

Shares of MGIC Investment stock traded down $0.07 on Monday, reaching $23.90. 2,142,648 shares of the stock were exchanged, compared to its average volume of 1,693,356. MGIC Investment Co. has a 1-year low of $19.15 and a 1-year high of $26.56. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average price of $24.34 and a two-hundred day moving average price of $24.80. The firm has a market capitalization of $6.06 billion, a PE ratio of 8.24 and a beta of 1.29.

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

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is 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.