Franklin Resources Inc. Has $39.07 Million Stake in MGIC Investment Co. (NYSE:MTG)

Franklin Resources Inc. raised its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,647,936 shares of the insurance provider's stock after acquiring an additional 26,098 shares during the quarter. Franklin Resources Inc. owned 0.65% of MGIC Investment worth $39,072,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of MGIC Investment by 21.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock valued at $55,000 after buying an additional 419 shares during the last quarter. Xponance Inc. boosted its position in MGIC Investment by 1.3% during the 4th quarter. Xponance Inc. now owns 35,320 shares of the insurance provider's stock worth $837,000 after acquiring an additional 442 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in shares of MGIC Investment by 1.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider's stock worth $897,000 after purchasing an additional 579 shares in the last quarter. US Bancorp DE increased its holdings in shares of MGIC Investment by 6.2% during the fourth quarter. US Bancorp DE now owns 10,249 shares of the insurance provider's stock valued at $243,000 after purchasing an additional 600 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of MGIC Investment by 6.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider's stock valued at $248,000 after purchasing an additional 608 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company's stock.

MGIC Investment Trading Down 2.6 %

Shares of MTG stock traded down $0.63 during trading hours on Thursday, reaching $23.26. 367,052 shares of the stock traded hands, compared to its average volume of 1,791,237. MGIC Investment Co. has a 1-year low of $19.26 and a 1-year high of $26.56. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.64 billion, a PE ratio of 8.03 and a beta of 0.93. The business has a fifty day moving average price of $24.08 and a 200 day moving average price of $24.57.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 EPS 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%. On average, equities research analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.24%. MGIC Investment's payout ratio is 17.93%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Keefe, Bruyette & Woods dropped 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. Compass Point restated a "neutral" rating and issued a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. UBS Group boosted their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, Barclays raised their target price 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, MGIC Investment presently has a consensus rating of "Hold" and an average target price of $26.50.

Insider Buying and Selling at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the sale, the chief accounting officer now owns 75,070 shares of the company's stock, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.05% of the company's stock.

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.