Cerity Partners LLC Has $1.18 Million Holdings in MGIC Investment Co. (NYSE:MTG)

Cerity Partners LLC boosted its holdings in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 271.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,203 shares of the insurance provider's stock after acquiring an additional 35,945 shares during the period. Cerity Partners LLC's holdings in MGIC Investment were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its holdings in shares of MGIC Investment by 8.2% in the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock valued at $130,289,000 after buying an additional 415,586 shares during the period. Norges Bank bought a new stake in MGIC Investment in the 4th quarter valued at $85,908,000. NewEdge Wealth LLC boosted its stake in MGIC Investment by 11.6% in the 4th quarter. NewEdge Wealth LLC now owns 1,837,821 shares of the insurance provider's stock worth $43,575,000 after purchasing an additional 190,450 shares during the period. Franklin Resources Inc. increased its holdings in MGIC Investment by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 1,647,936 shares of the insurance provider's stock worth $39,072,000 after purchasing an additional 26,098 shares in the last quarter. Finally, Vest Financial LLC raised its stake in shares of MGIC Investment by 33.4% in the 4th quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider's stock valued at $35,213,000 after purchasing an additional 371,882 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped their target price on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Barclays lifted their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. UBS Group raised their target price 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. Finally, Compass Point reissued a "neutral" rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $26.50.

MGIC Investment Stock Performance

MGIC Investment stock traded up $0.09 during mid-day trading on Thursday, hitting $24.24. 452,881 shares of the company's stock traded hands, compared to its average volume of 1,800,032. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The firm has a 50 day simple moving average of $23.87 and a two-hundred day simple moving average of $24.48. MGIC Investment Co. has a fifty-two week low of $19.98 and a fifty-two week high of $26.56. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 8.35 and a beta of 0.93.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly 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%. On average, research analysts expect that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.15%. MGIC Investment's dividend payout ratio (DPR) is presently 17.93%.

Insiders Place Their Bets

In related 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 transaction, the chief accounting officer now 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.