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Erste Asset Management GmbH Invests $594,000 in MGIC Investment Co. (NYSE:MTG)

MGIC Investment logo with Finance background

Erste Asset Management GmbH purchased a new position in MGIC Investment Co. (NYSE:MTG - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,400 shares of the insurance provider's stock, valued at approximately $594,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of MGIC Investment by 3.8% during 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 shares of MGIC Investment during the third quarter worth about $13,535,000. WINTON GROUP Ltd lifted its holdings in shares of 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 purchasing an additional 424,580 shares during the period. Vest Financial LLC lifted its holdings in shares of 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 purchasing an additional 198,553 shares during the period. Finally, CX Institutional acquired a new stake in shares of MGIC Investment during the third quarter worth about $4,911,000. Hedge funds and other institutional investors own 95.58% of the company's stock.

Wall Street Analyst Weigh In

MTG has been the subject of a number of analyst reports. Barclays boosted their price target on MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, October 8th. Royal Bank of Canada decreased their price target 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.50.

View Our Latest Report on MGIC Investment

MGIC Investment Trading Up 0.3 %

NYSE:MTG traded up $0.07 on Thursday, hitting $25.70. 1,432,901 shares of the stock were exchanged, compared to its average volume of 1,737,311. MGIC Investment Co. has a fifty-two week low of $17.42 and a fifty-two week high of $26.56. The stock has a fifty day moving average of $25.29 and a 200-day moving average of $23.81. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The stock has a market cap of $6.51 billion, a PE ratio of 9.02, a PEG ratio of 1.85 and a beta of 1.27.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS 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 firm had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. During the same quarter in the prior year, the business posted $0.64 earnings per share. MGIC Investment's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities analysts expect that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, November 7th. MGIC Investment's dividend payout ratio is currently 18.31%.

MGIC Investment Company Profile

(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.

See Also

Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

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