MGIC Investment Co. (NYSE:MTG) Shares Purchased by Foster & Motley Inc.

Foster & Motley Inc. raised its holdings in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 235,835 shares of the insurance provider's stock after buying an additional 15,030 shares during the period. Foster & Motley Inc. owned about 0.09% of MGIC Investment worth $5,592,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Franklin Resources Inc. lifted its position in shares of MGIC Investment by 6.5% in the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock valued at $41,836,000 after acquiring an additional 98,369 shares in the last quarter. GSA Capital Partners LLP boosted its stake in MGIC Investment by 154.1% during the third quarter. GSA Capital Partners LLP now owns 96,732 shares of the insurance provider's stock valued at $2,476,000 after buying an additional 58,664 shares during the last quarter. Vestcor Inc increased its position in MGIC Investment by 559.3% in the third quarter. Vestcor Inc now owns 60,094 shares of the insurance provider's stock worth $1,538,000 after purchasing an additional 50,979 shares during the last quarter. Hancock Whitney Corp bought a new position in shares of MGIC Investment in the 3rd quarter valued at about $777,000. Finally, Ritholtz Wealth Management increased its position in shares of MGIC Investment by 13.4% during the 4th quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider's stock valued at $2,174,000 after purchasing an additional 10,864 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays raised 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. Royal Bank of Canada cut their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 6th. Keefe, Bruyette & Woods dropped their target price 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. Finally, Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and dropped their price objective for the company from $26.00 to $25.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $25.86.

MGIC Investment Stock Performance

MGIC Investment stock traded up $0.56 during mid-day trading on Thursday, reaching $25.87. 325,827 shares of the company traded hands, compared to its average volume of 1,517,685. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. The firm's fifty day moving average is $24.54 and its two-hundred day moving average is $24.67. MGIC Investment Co. has a fifty-two week low of $18.68 and a fifty-two week high of $26.56. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $306.65 million during the quarter, compared to analysts' expectations 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 last year, the business posted $0.64 earnings per share. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Tuesday, February 18th. MGIC Investment's dividend payout ratio (DPR) is currently 18.31%.

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.