MGIC Investment Co. (NYSE:MTG) Holdings Raised by First Eagle Investment Management LLC

First Eagle Investment Management LLC raised its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 758,879 shares of the insurance provider's stock after purchasing an additional 25,623 shares during the period. First Eagle Investment Management LLC owned about 0.30% of MGIC Investment worth $17,993,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MTG. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of MGIC Investment in the 3rd quarter valued at approximately $13,535,000. Allianz Asset Management GmbH raised its position in shares of MGIC Investment by 8.2% during the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock valued at $130,289,000 after acquiring an additional 415,586 shares in the last quarter. Amundi acquired a new stake in shares of MGIC Investment during the 4th quarter valued at approximately $8,914,000. Vest Financial LLC raised its position in shares of MGIC Investment by 33.4% during the 4th quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider's stock valued at $35,213,000 after acquiring an additional 371,882 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of MGIC Investment during the 4th quarter valued at approximately $8,362,000. 95.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the transaction, the chief accounting officer now owns 75,070 shares of the company's stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.05% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MTG shares. UBS Group upped their price target on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Bank of America lowered MGIC Investment from a "buy" rating to an "underperform" rating and dropped their price target for the company from $26.00 to $25.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods dropped their price target on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a research report on Wednesday, January 8th. Barclays upped their price target on 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, 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $26.75.

MGIC Investment Stock Performance

MTG traded up $0.13 during trading on Tuesday, reaching $23.18. 3,134,835 shares of the company were exchanged, compared to its average volume of 1,629,644. The stock has a market cap of $5.63 billion, a P/E ratio of 7.99 and a beta of 1.28. The firm has a 50 day moving average of $24.28 and a 200 day moving average of $24.74. 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 Co. has a 52 week low of $19.26 and a 52 week high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings data 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 return on equity of 14.86% and a net margin of 63.18%. On average, sell-side analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.24%. MGIC Investment's payout ratio is 17.93%.

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.