Los Angeles Capital Management LLC reduced its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,388,713 shares of the insurance provider's stock after selling 50,014 shares during the quarter. Los Angeles Capital Management LLC owned 0.54% of MGIC Investment worth $35,551,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Hara Capital LLC purchased a new stake in shares of MGIC Investment during the 3rd quarter worth $25,000. Versant Capital Management Inc grew its stake in MGIC Investment by 482.7% in the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 946 shares during the last quarter. V Square Quantitative Management LLC bought a new position in MGIC Investment in the third quarter worth about $33,000. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 1,328 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of 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 buying an additional 1,341 shares in the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently commented on MTG. Royal Bank of Canada decreased their target price on shares of MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Wednesday, November 6th. Barclays raised their price objective on MGIC Investment from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 8th. BTIG Research raised their price objective on MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Finally, Roth Mkm increased their price target on MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, MGIC Investment presently has an average rating of "Moderate Buy" and a consensus target price of $25.50.
Check Out Our Latest Stock Analysis on MTG
MGIC Investment Stock Performance
Shares of NYSE MTG traded up $0.45 during mid-day trading on Monday, hitting $24.91. The stock had a trading volume of 1,401,325 shares, compared to its average volume of 1,775,736. The firm has a market cap of $6.31 billion, a PE ratio of 8.78, a PEG ratio of 1.37 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.11 and a current ratio of 1.25. The company has a 50 day moving average of $25.22 and a two-hundred day moving average of $23.26. MGIC Investment Co. has a twelve month low of $17.25 and a twelve month high of $26.52.
MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The business had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. During the same period in the prior year, the company earned $0.64 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. Research analysts predict that MGIC Investment Co. will post 2.81 EPS for the current fiscal year.
MGIC Investment Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, November 7th. MGIC Investment's payout ratio is 18.31%.
About MGIC Investment
(
Free Report)
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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