Aster Capital Management DIFC Ltd Purchases New Position in MGIC Investment Co. (NYSE:MTG)

Aster Capital Management DIFC Ltd purchased a new position in MGIC Investment Co. (NYSE:MTG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,553 shares of the insurance provider's stock, valued at approximately $487,000.

Other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in MGIC Investment by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock worth $41,836,000 after acquiring an additional 98,369 shares during the period. Vestcor Inc increased its stake in shares of MGIC Investment by 559.3% in the third quarter. Vestcor Inc now owns 60,094 shares of the insurance provider's stock worth $1,538,000 after purchasing an additional 50,979 shares during the period. Ritholtz Wealth Management lifted its position in shares of MGIC Investment by 13.4% during the 4th quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider's stock worth $2,174,000 after purchasing an additional 10,864 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in MGIC Investment by 33.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 40,398 shares of the insurance provider's stock valued at $958,000 after purchasing an additional 10,130 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in MGIC Investment by 311.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 66,493 shares of the insurance provider's stock valued at $1,575,000 after buying an additional 50,316 shares during the last quarter. Institutional investors own 95.58% of the company's stock.

Wall Street Analysts Forecast Growth

MTG has been the subject of several research reports. Compass Point reissued a "neutral" rating and issued a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their price objective 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. Barclays increased their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Finally, UBS Group upped their price target on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. One 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. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $26.50.

MGIC Investment Price Performance

NYSE MTG traded up $0.72 during trading on Friday, reaching $23.93. 2,341,615 shares of the company traded hands, compared to its average volume of 1,799,697. MGIC Investment Co. has a 1-year low of $19.26 and a 1-year high of $26.56. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 8.25 and a beta of 0.93. The stock's 50 day moving average price is $24.01 and its two-hundred day moving average price is $24.55. 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 announced its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. As a group, analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment's dividend payout ratio is currently 17.93%.

Insider Buying and Selling at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction 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 in the company, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.05% of the company's stock.

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.