Invesco Ltd. Boosts Stake in MGIC Investment Co. (NYSE:MTG)

Invesco Ltd. boosted its position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 16.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,766,195 shares of the insurance provider's stock after acquiring an additional 677,227 shares during the period. Invesco Ltd. owned 1.88% of MGIC Investment worth $113,006,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MTG. Barclays PLC lifted its stake in shares of MGIC Investment by 75.1% during the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider's stock valued at $11,716,000 after buying an additional 196,252 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in MGIC Investment by 395.8% during the third quarter. Sanctuary Advisors LLC now owns 150,637 shares of the insurance provider's stock valued at $3,841,000 after acquiring an additional 120,257 shares during the period. World Investment Advisors LLC purchased a new position in shares of MGIC Investment in the third quarter valued at about $619,000. Franklin Resources Inc. boosted its stake 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 worth $41,836,000 after acquiring an additional 98,369 shares during the period. Finally, DGS Capital Management LLC grew its position in shares of MGIC Investment by 6.2% during the third quarter. DGS Capital Management LLC now owns 85,797 shares of the insurance provider's stock worth $2,196,000 after purchasing an additional 4,974 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors.

Insider Transactions at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MTG shares. Keefe, Bruyette & Woods lowered their price target on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. Barclays boosted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Compass Point reaffirmed a "neutral" rating and set a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Finally, UBS Group boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $26.50.

MGIC Investment Price Performance

MGIC Investment stock traded up $0.19 during mid-day trading on Friday, reaching $24.03. 1,681,155 shares of the company's stock traded hands, compared to its average volume of 1,801,751. MGIC Investment Co. has a 12-month low of $19.32 and a 12-month high of $26.56. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 8.28 and a beta of 0.93. The stock has a 50 day moving average of $23.92 and a two-hundred day moving average of $24.52. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Equities analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment's payout ratio is 17.93%.

About MGIC Investment

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.