MGIC Investment Co. (NYSE:MTG) Holdings Lifted by LSV Asset Management

LSV Asset Management grew its stake in MGIC Investment Co. (NYSE:MTG - Free Report) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,578,342 shares of the insurance provider's stock after acquiring an additional 235,916 shares during the quarter. LSV Asset Management owned about 4.18% of MGIC Investment worth $250,812,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. UMB Bank n.a. boosted its stake in shares of MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock worth $39,000 after purchasing an additional 938 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock worth $43,000 after purchasing an additional 918 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of MGIC Investment by 61.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock worth $49,000 after purchasing an additional 794 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new position in MGIC Investment in the fourth quarter valued at $54,000. Finally, EverSource Wealth Advisors LLC boosted its stake in MGIC Investment by 21.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock worth $55,000 after buying an additional 419 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

Insiders Place Their Bets

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the transaction, the chief accounting officer now owns 75,070 shares of the company's stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MTG has been the topic of several research analyst reports. UBS Group raised their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Compass Point reissued a "neutral" rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods cut their target price on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays boosted their price target on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, MGIC Investment currently has an average rating of "Hold" and an average target price of $26.50.

MGIC Investment Stock Up 0.6 %

Shares of MTG stock traded up $0.15 during mid-day trading on Tuesday, reaching $24.45. 663,499 shares of the company were exchanged, compared to its average volume of 1,798,973. The company has a market capitalization of $5.93 billion, a P/E ratio of 8.43 and a beta of 0.93. The business's 50 day simple moving average is $23.99 and its 200 day simple moving average is $24.54. 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 Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 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%. Research analysts predict that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Tuesday, February 18th. 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.