MGIC Investment Co. (NYSE:MTG) Stock Holdings Lifted by First Trust Advisors LP

First Trust Advisors LP increased its stake in MGIC Investment Co. (NYSE:MTG - Free Report) by 22.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,008,489 shares of the insurance provider's stock after acquiring an additional 2,928,595 shares during the period. First Trust Advisors LP owned approximately 6.32% of MGIC Investment worth $379,561,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. LSV Asset Management raised its stake in MGIC Investment by 2.3% during the fourth quarter. LSV Asset Management now owns 10,578,342 shares of the insurance provider's stock worth $250,812,000 after purchasing an additional 235,916 shares during the period. Allianz Asset Management GmbH raised its position in shares of MGIC Investment by 8.2% in the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock worth $130,289,000 after buying an additional 415,586 shares during the period. Invesco Ltd. boosted its holdings in MGIC Investment by 16.6% in the fourth quarter. Invesco Ltd. now owns 4,766,195 shares of the insurance provider's stock valued at $113,006,000 after acquiring an additional 677,227 shares during the last quarter. Norges Bank purchased a new stake in MGIC Investment during the fourth quarter valued at about $85,908,000. Finally, NewEdge Wealth LLC grew its position in MGIC Investment by 11.6% during the fourth quarter. NewEdge Wealth LLC now owns 1,837,821 shares of the insurance provider's stock valued at $43,575,000 after acquiring an additional 190,450 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Up 1.6 %

Shares of MTG stock traded up $0.40 on Thursday, hitting $24.55. The stock had a trading volume of 1,196,866 shares, compared to its average volume of 2,275,502. The stock's 50 day moving average is $23.87 and its 200-day moving average is $24.48. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 8.47 and a beta of 0.93. MGIC Investment Co. has a 52-week low of $19.98 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 0.48.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. As a group, research analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.12%. MGIC Investment's dividend payout ratio is presently 17.93%.

Analyst Ratings Changes

Several research firms have recently weighed in on MTG. Barclays lifted their price objective on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their price target on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Compass Point reissued a "neutral" rating and issued a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Finally, UBS Group lifted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, MGIC Investment currently has an average rating of "Hold" and a consensus target price of $26.50.

Insider Buying and Selling at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.05% of the stock is currently owned by corporate insiders.

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.