Empowered Funds LLC acquired a new stake in MGIC Investment Co. (NYSE:MTG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 49,178 shares of the insurance provider's stock, valued at approximately $1,166,000.
A number of other large investors also recently modified their holdings of MTG. CWM LLC boosted its position in shares of MGIC Investment by 116.1% in the third quarter. CWM LLC now owns 5,495 shares of the insurance provider's stock valued at $141,000 after acquiring an additional 2,952 shares during the period. Creative Planning boosted its position in shares of MGIC Investment by 17.9% in the third quarter. Creative Planning now owns 21,128 shares of the insurance provider's stock valued at $541,000 after acquiring an additional 3,204 shares during the period. V Square Quantitative Management LLC bought a new position in shares of MGIC Investment in the third quarter valued at approximately $33,000. Blue Trust Inc. lifted its position in MGIC Investment by 184.2% during the third quarter. Blue Trust Inc. now owns 14,169 shares of the insurance provider's stock valued at $363,000 after purchasing an additional 9,184 shares during the last quarter. Finally, Vest Financial LLC lifted its position in MGIC Investment by 3.7% during the third quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider's stock valued at $28,499,000 after purchasing an additional 39,502 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.
MGIC Investment Price Performance
Shares of MTG stock traded down $0.12 during trading hours on Thursday, hitting $24.44. 1,314,607 shares of the company's stock were exchanged, compared to its average volume of 1,675,224. The company has a market capitalization of $6.19 billion, a PE ratio of 8.43 and a beta of 1.29. MGIC Investment Co. has a 12-month low of $18.98 and a 12-month high of $26.56. The business's 50 day simple moving average is $24.36 and its 200-day simple moving average is $24.78. The company has a current ratio of 0.48, a quick ratio of 1.25 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 the consensus estimate 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, equities research analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.
MGIC Investment Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Tuesday, February 18th. MGIC Investment's payout ratio is 17.93%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on MTG shares. Compass Point reiterated a "neutral" rating and set a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods dropped 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 research report on Wednesday, January 8th. Royal Bank of Canada dropped their target price on shares of MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Wednesday, November 6th. Barclays lifted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Bank of America lowered shares of MGIC Investment from a "buy" rating to an "underperform" rating and dropped their target price for the company from $26.00 to $25.00 in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.75.
Get Our Latest Analysis on MTG
About MGIC Investment
(
Free Report)
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.
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