Natixis Advisors LLC Increases Position in MGIC Investment Co. (NYSE:MTG)

Natixis Advisors LLC raised its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 7.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 163,881 shares of the insurance provider's stock after buying an additional 11,477 shares during the quarter. Natixis Advisors LLC owned 0.06% of MGIC Investment worth $3,886,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of MGIC Investment during the third quarter valued at approximately $13,535,000. Allianz Asset Management GmbH raised its position in MGIC Investment by 8.2% in the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock valued at $130,289,000 after purchasing an additional 415,586 shares during the last quarter. Amundi acquired a new stake in shares of MGIC Investment in the fourth quarter valued at $8,914,000. Vest Financial LLC raised its holdings in shares of MGIC Investment by 33.4% in the fourth quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider's stock valued at $35,213,000 after buying an additional 371,882 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of MGIC Investment during the fourth quarter worth approximately $8,362,000. 95.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction 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 directly owns 75,070 shares of the company's stock, valued at $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.05% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their target price on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Barclays raised 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 issued a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their price target on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America lowered MGIC Investment from a "buy" rating to an "underperform" rating and dropped their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, MGIC Investment currently has an average rating of "Hold" and an average price target of $26.75.

MGIC Investment Trading Up 1.8 %

Shares of MTG traded up $0.44 during mid-day trading on Wednesday, reaching $24.73. 2,003,915 shares of the company were exchanged, compared to its average volume of 2,305,483. The business has a 50 day simple moving average of $24.32 and a two-hundred day simple moving average of $24.67. MGIC Investment Co. has a 52 week low of $19.26 and a 52 week high of $26.56. The stock has a market capitalization of $6.00 billion, a PE ratio of 8.53 and a beta of 1.28. 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 posted its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating analysts' consensus estimates 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, analysts predict that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.10%. The ex-dividend date was Tuesday, February 18th. MGIC Investment's dividend payout ratio (DPR) is presently 17.93%.

MGIC Investment 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.