EP Wealth Advisors LLC Makes New $1.15 Million Investment in MGIC Investment Co. (NYSE:MTG)

EP Wealth Advisors LLC purchased a new stake in MGIC Investment Co. (NYSE:MTG - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 45,001 shares of the insurance provider's stock, valued at approximately $1,152,000.

A number of other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of MGIC Investment by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider's stock worth $326,375,000 after acquiring an additional 556,859 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in MGIC Investment during the third quarter worth $13,535,000. WINTON GROUP Ltd boosted its stake in MGIC Investment by 440.3% during the second quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider's stock worth $11,228,000 after buying an additional 424,580 shares in the last quarter. Vest Financial LLC boosted its stake in MGIC Investment by 22.7% during the second quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider's stock worth $23,139,000 after buying an additional 198,553 shares in the last quarter. Finally, CX Institutional acquired a new stake in MGIC Investment during the third quarter worth $4,911,000. Institutional investors own 95.58% of the company's stock.

MGIC Investment Trading Up 1.0 %

NYSE:MTG traded up $0.24 on Wednesday, hitting $24.81. 1,649,008 shares of the stock were exchanged, compared to its average volume of 1,733,804. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 1.82 and a beta of 1.27. MGIC Investment Co. has a 52 week low of $18.16 and a 52 week high of $26.56. 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 company's 50-day moving average price is $25.25 and its 200 day moving average price is $23.97.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.11. The company had revenue of $306.65 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. On average, equities research analysts forecast that MGIC Investment Co. will post 2.85 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 2.10%. MGIC Investment's payout ratio is currently 18.31%.

Analyst Upgrades and Downgrades

MTG has been the topic of a number of recent research reports. Barclays lifted their price target 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. Bank of America cut MGIC Investment from a "buy" rating to an "underperform" rating and cut their price objective for the company from $26.00 to $25.00 in a report on Monday. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $29.00 price objective on shares of MGIC Investment in a report on Tuesday. Finally, Royal Bank of Canada cut their price objective on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $26.00.

MGIC Investment Company 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.