Larson Financial Group LLC Grows Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Larson Financial Group LLC raised its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,544 shares of the insurance provider's stock after acquiring an additional 11,112 shares during the quarter. Larson Financial Group LLC's holdings in MGIC Investment were worth $2,763,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of MGIC Investment by 6.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider's stock valued at $248,000 after acquiring an additional 608 shares during the period. EagleClaw Capital Managment LLC increased its position in shares of MGIC Investment by 2.7% during the fourth quarter. EagleClaw Capital Managment LLC now owns 57,800 shares of the insurance provider's stock valued at $1,370,000 after buying an additional 1,500 shares during the period. Raymond James Financial Inc. purchased a new position in shares of MGIC Investment during the fourth quarter valued at about $1,740,000. Proficio Capital Partners LLC purchased a new position in shares of MGIC Investment during the fourth quarter valued at about $653,000. Finally, Assetmark Inc. increased its position in shares of MGIC Investment by 5.7% during the fourth quarter. Assetmark Inc. now owns 1,027,491 shares of the insurance provider's stock valued at $24,362,000 after buying an additional 55,059 shares during the period. Hedge funds and other institutional investors own 95.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of 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. Barclays boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Bank of America cut shares of MGIC Investment from a "buy" rating to an "underperform" rating and reduced their price target for the company from $26.00 to $25.00 in a research report on Monday, December 9th. Compass Point restated a "neutral" rating and issued a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Finally, UBS Group upped their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $26.75.

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Insider Transactions at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the transaction, the chief accounting officer now owns 75,070 shares in the company, valued at $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.05% of the company's stock.

MGIC Investment Trading Up 0.7 %

Shares of NYSE MTG opened at $23.80 on Friday. The firm's 50 day moving average price is $24.38 and its 200-day moving average price is $24.82. The company has a market cap of $5.78 billion, a PE ratio of 8.21 and a beta of 1.28. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.19%. MGIC Investment's dividend payout ratio is presently 17.93%.

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.

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