Caisse DE Depot ET Placement DU Quebec Takes Position in MGIC Investment Co. (NYSE:MTG)

Caisse DE Depot ET Placement DU Quebec purchased a new position in MGIC Investment Co. (NYSE:MTG - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 528,721 shares of the insurance provider's stock, valued at approximately $13,535,000. Caisse DE Depot ET Placement DU Quebec owned 0.21% of MGIC Investment at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MTG. Versant Capital Management Inc raised its stake in shares of MGIC Investment by 482.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider's stock worth $25,000 after buying an additional 946 shares during the period. Hara Capital LLC purchased a new position in MGIC Investment during the third quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in shares of MGIC Investment in the third quarter valued at about $33,000. GAMMA Investing LLC increased its stake in shares of MGIC Investment by 76.2% during the second quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider's stock worth $66,000 after purchasing an additional 1,328 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of MGIC Investment during the 3rd quarter worth about $69,000. Hedge funds and other institutional investors own 95.58% of the company's stock.

MGIC Investment Price Performance

Shares of MTG stock traded down $0.23 during trading hours on Monday, reaching $26.03. The company had a trading volume of 1,256,726 shares, compared to its average volume of 1,742,999. MGIC Investment Co. has a 12-month low of $17.42 and a 12-month high of $26.56. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 1.88 and a beta of 1.28. 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 has a fifty day moving average of $25.27 and a 200-day moving average of $23.77.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its 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 the consensus estimate of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. On average, equities analysts anticipate that MGIC Investment Co. will post 2.85 earnings per share for the current year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 annualized dividend and a yield of 2.00%. MGIC Investment's payout ratio is 18.31%.

Analysts Set New Price Targets

Several research firms recently issued reports on MTG. Barclays lifted their price objective on MGIC Investment from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 8th. Royal Bank of Canada lowered their price target 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. Finally, BTIG Research increased their price objective on MGIC Investment from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $25.50.

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.