EMC Capital Management Buys 30,596 Shares of MGIC Investment Co. (NYSE:MTG)

EMC Capital Management increased its position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 1,225.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,093 shares of the insurance provider's stock after acquiring an additional 30,596 shares during the period. MGIC Investment makes up about 0.4% of EMC Capital Management's investment portfolio, making the stock its 14th largest position. EMC Capital Management's holdings in MGIC Investment were worth $785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of MGIC Investment in the 3rd quarter worth approximately $13,535,000. Assenagon Asset Management S.A. acquired a new position in MGIC Investment in the fourth quarter worth approximately $8,362,000. Barclays PLC increased its holdings in shares of MGIC Investment by 75.1% in the third quarter. Barclays PLC now owns 457,706 shares of the insurance provider's stock valued at $11,716,000 after buying an additional 196,252 shares in the last quarter. CX Institutional acquired a new stake in shares of MGIC Investment during the 3rd quarter valued at $4,911,000. Finally, Taika Capital LP bought a new stake in shares of MGIC Investment during the 3rd quarter worth $4,123,000. 95.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on MTG shares. Barclays raised their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note 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 report on Wednesday, November 6th. Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and reduced their price objective for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods lowered their target price on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $25.86.

MGIC Investment Stock Down 0.8 %

NYSE:MTG traded down $0.20 during trading hours on Friday, reaching $25.51. The company's stock had a trading volume of 1,780,838 shares, compared to its average volume of 1,561,037. 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 company has a market cap of $6.46 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 1.90 and a beta of 1.29. MGIC Investment Co. has a one year low of $18.68 and a one year high of $26.56. The business's 50-day moving average is $24.55 and its 200-day moving average is $24.68.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. During the same period last year, the business earned $0.64 EPS. The firm's revenue was up 3.4% compared to the same quarter last year. Equities research analysts predict that MGIC Investment Co. will post 2.85 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Tuesday, February 18th. MGIC Investment's payout ratio is presently 18.31%.

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.