Barclays PLC Purchases 196,252 Shares of MGIC Investment Co. (NYSE:MTG)

Barclays PLC increased its position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 75.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 457,706 shares of the insurance provider's stock after acquiring an additional 196,252 shares during the quarter. Barclays PLC owned about 0.18% of MGIC Investment worth $11,716,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue lifted its stake in MGIC Investment by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider's stock valued at $3,858,000 after buying an additional 540 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in MGIC Investment by 1.6% in the second quarter. Nations Financial Group Inc. IA ADV now owns 35,306 shares of the insurance provider's stock valued at $761,000 after buying an additional 565 shares during the period. Lindenwold Advisors INC lifted its stake in MGIC Investment by 3.7% in the third quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider's stock valued at $425,000 after buying an additional 592 shares during the period. Fortem Financial Group LLC lifted its stake in MGIC Investment by 1.0% in the second quarter. Fortem Financial Group LLC now owns 75,447 shares of the insurance provider's stock valued at $1,626,000 after buying an additional 747 shares during the period. Finally, Financial Strategies Group Inc. lifted its stake in MGIC Investment by 9.2% in the third quarter. Financial Strategies Group Inc. now owns 11,440 shares of the insurance provider's stock valued at $295,000 after buying an additional 966 shares during the period. Institutional investors and hedge funds own 95.58% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on MTG. Royal Bank of Canada cut their target price on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 6th. Barclays increased their price target on MGIC Investment from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 8th. Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $26.00 to $25.00 in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $29.00 price target on shares of MGIC Investment in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $26.00.

MGIC Investment Stock Down 1.7 %

MTG stock traded down $0.41 during mid-day trading on Tuesday, reaching $24.29. The company had a trading volume of 1,282,797 shares, compared to its average volume of 1,730,999. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a 50 day simple moving average of $25.19 and a two-hundred day simple moving average of $24.10. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 1.77 and a beta of 1.27. MGIC Investment Co. has a 52 week low of $18.68 and a 52 week high of $26.56.

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

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.13 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.14%. MGIC Investment's payout ratio is 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.