Bridgewater Associates LP Invests $774,000 in MGIC Investment Co. (NYSE:MTG)

Bridgewater Associates LP bought a new stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 30,242 shares of the insurance provider's stock, valued at approximately $774,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MTG. Dimensional Fund Advisors LP lifted its holdings in shares of MGIC Investment by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider's stock valued at $326,375,000 after buying an additional 556,859 shares during the period. American Century Companies Inc. boosted its position in shares of MGIC Investment by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider's stock valued at $73,167,000 after purchasing an additional 50,307 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of MGIC Investment by 0.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,438,727 shares of the insurance provider's stock worth $31,005,000 after purchasing an additional 4,602 shares during the last quarter. Vest Financial LLC raised its holdings in shares of MGIC Investment by 3.7% in the 3rd quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider's stock worth $28,499,000 after purchasing an additional 39,502 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in MGIC Investment by 2.9% during the second quarter. Mackenzie Financial Corp now owns 879,674 shares of the insurance provider's stock valued at $18,957,000 after purchasing an additional 24,627 shares during the last quarter. Institutional investors own 95.58% of the company's stock.

MGIC Investment Stock Down 0.4 %

NYSE:MTG traded down $0.10 during trading hours on Tuesday, hitting $25.93. 1,306,681 shares of the company's stock traded hands, compared to its average volume of 1,452,508. The stock's fifty day moving average price is $25.27 and its two-hundred day moving average price is $23.77. The firm has a market cap of $6.57 billion, a P/E ratio of 9.13, a P/E/G ratio of 1.86 and a beta of 1.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. MGIC Investment Co. has a twelve month low of $17.42 and a twelve month 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.11. The business had revenue of $306.65 million during the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The firm's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. On average, research analysts expect that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, November 7th. MGIC Investment's dividend payout ratio (DPR) is presently 18.31%.

Analyst Ratings Changes

MTG has been the topic of several research reports. Royal Bank of Canada dropped their price target on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 6th. BTIG Research boosted their target price on MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Finally, Barclays increased their price target on MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.50.

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.