Hancock Whitney Corp Takes Position in MGIC Investment Co. (NYSE:MTG)

Hancock Whitney Corp purchased a new position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,371 shares of the insurance provider's stock, valued at approximately $777,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MTG. Versant Capital Management Inc grew its position in MGIC Investment by 482.7% during the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider's stock worth $25,000 after buying an additional 946 shares during the period. Hara Capital LLC acquired a new position in MGIC Investment during the third quarter worth about $25,000. V Square Quantitative Management LLC acquired a new position in MGIC Investment during the third quarter worth about $33,000. GAMMA Investing LLC grew its position in MGIC Investment by 76.2% during the second quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider's stock worth $66,000 after buying an additional 1,328 shares during the period. Finally, Covestor Ltd grew its position in MGIC Investment by 65.5% during the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider's stock worth $87,000 after buying an additional 1,341 shares during the period. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on MTG shares. Royal Bank of Canada reduced their price target 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. BTIG Research increased their price objective on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Barclays raised their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, October 8th. Finally, Roth Mkm raised their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.50.

MGIC Investment Stock Up 0.0 %

MTG traded up $0.01 on Wednesday, reaching $26.12. 1,012,514 shares of the company traded hands, compared to its average volume of 1,750,112. The stock's 50 day moving average price is $25.22 and its 200-day moving average price is $23.62. MGIC Investment Co. has a 52-week low of $17.31 and a 52-week high of $26.56. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 1.91 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25.

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 (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.11. The business had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. MGIC Investment's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. On average, sell-side analysts expect that MGIC Investment Co. will post 2.81 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, November 7th. MGIC Investment's dividend payout ratio is 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.