Caisse Des Depots ET Consignations Invests $670,000 in MGIC Investment Co. (NYSE:MTG)

Caisse Des Depots ET Consignations bought a new position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,275 shares of the insurance provider's stock, valued at approximately $670,000.

A number of other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of MGIC Investment by 21.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock valued at $55,000 after acquiring an additional 419 shares during the last quarter. Xponance Inc. lifted its position in MGIC Investment by 1.3% during the fourth quarter. Xponance Inc. now owns 35,320 shares of the insurance provider's stock valued at $837,000 after purchasing an additional 442 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of MGIC Investment by 1.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider's stock worth $897,000 after buying an additional 579 shares during the last quarter. US Bancorp DE increased its holdings in shares of MGIC Investment by 6.2% in the 4th quarter. US Bancorp DE now owns 10,249 shares of the insurance provider's stock worth $243,000 after buying an additional 600 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of MGIC Investment by 6.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider's stock valued at $248,000 after buying an additional 608 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company's stock.

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MGIC Investment Trading Up 1.9 %

MTG stock traded up $0.47 during trading on Tuesday, hitting $25.25. The company had a trading volume of 454,644 shares, compared to its average volume of 2,272,429. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56. The company has a 50 day simple moving average of $24.35 and a 200-day simple moving average of $24.67. The firm has a market capitalization of $6.12 billion, a P/E ratio of 8.70 and a beta of 1.28. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 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 forecast that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Tuesday, February 18th. MGIC Investment's dividend payout ratio is 17.93%.

Insider Transactions at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction dated 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 $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.05% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MTG shares. Compass Point reissued a "neutral" rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Barclays raised their price target on MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. UBS Group boosted their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods lowered their target price on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a report on Wednesday, January 8th. Finally, Bank of America downgraded shares of MGIC Investment from a "buy" rating to an "underperform" rating and cut their price target for the company from $26.00 to $25.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $26.75.

MGIC Investment 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.