GSA Capital Partners LLP Acquires 58,664 Shares of MGIC Investment Co. (NYSE:MTG)

GSA Capital Partners LLP boosted its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 154.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 96,732 shares of the insurance provider's stock after acquiring an additional 58,664 shares during the period. GSA Capital Partners LLP's holdings in MGIC Investment were worth $2,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in MGIC Investment by 482.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 946 shares during the period. Hara Capital LLC bought a new stake in MGIC Investment in the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC bought a new stake in MGIC Investment in the 3rd quarter valued at about $33,000. GAMMA Investing LLC raised its stake in MGIC Investment by 76.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider's stock valued at $66,000 after acquiring an additional 1,328 shares during the period. Finally, Covestor Ltd raised its stake in MGIC Investment by 65.5% in the 3rd quarter. Covestor Ltd now owns 3,387 shares of the insurance provider's stock valued at $87,000 after acquiring an additional 1,341 shares during the period. 95.58% of the stock is currently owned by institutional investors.

MGIC Investment Price Performance

Shares of MTG stock traded up $0.04 during trading on Tuesday, hitting $24.95. The company had a trading volume of 1,277,153 shares, compared to its average volume of 1,773,460. The company has a quick ratio of 1.11, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The stock's 50-day moving average is $25.21 and its two-hundred day moving average is $23.29. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28. MGIC Investment Co. has a 52 week low of $17.25 and a 52 week high of $26.52.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.11. The company had revenue of $306.65 million for the quarter, compared to analysts' expectations of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. MGIC Investment's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, analysts predict that MGIC Investment Co. will post 2.81 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Thursday, November 7th. MGIC Investment's payout ratio is currently 18.31%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MTG shares. Roth Mkm upped their price target on MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Barclays upped their price target on MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a research 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 on the stock in a research report on Wednesday, November 6th. Finally, BTIG Research upped their price target on MGIC Investment from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $25.50.

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.