MGIC Investment Co. (NYSE:MTG) Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,495,115 shares of the insurance provider's stock after purchasing an additional 415,586 shares during the period. Allianz Asset Management GmbH owned approximately 2.17% of MGIC Investment worth $130,289,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Handelsbanken Fonder AB lifted its stake in shares of MGIC Investment by 11.6% in the 4th quarter. Handelsbanken Fonder AB now owns 67,482 shares of the insurance provider's stock valued at $1,600,000 after purchasing an additional 7,000 shares in the last quarter. New York State Common Retirement Fund raised its holdings in MGIC Investment by 25.8% in the fourth quarter. New York State Common Retirement Fund now owns 360,028 shares of the insurance provider's stock valued at $8,536,000 after buying an additional 73,837 shares during the period. Venturi Wealth Management LLC lifted its position in MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after buying an additional 918 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in MGIC Investment by 2.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 85,436 shares of the insurance provider's stock worth $2,026,000 after buying an additional 2,298 shares during the period. Finally, Csenge Advisory Group increased its position in shares of MGIC Investment by 10.7% in the fourth quarter. Csenge Advisory Group now owns 81,260 shares of the insurance provider's stock worth $1,927,000 after acquiring an additional 7,830 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

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Analyst Upgrades and Downgrades

MTG has been the topic of several recent research reports. Barclays lifted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. UBS Group boosted their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Compass Point reiterated a "neutral" rating and issued a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Royal Bank of Canada dropped their target price on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods decreased their price target on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $26.75.

MGIC Investment Stock Up 0.8 %

MTG traded up $0.20 on Tuesday, reaching $24.08. The company's stock had a trading volume of 1,966,150 shares, compared to its average volume of 1,700,932. MGIC Investment Co. has a 1 year low of $19.15 and a 1 year high of $26.56. The business's 50 day moving average is $24.32 and its 200 day moving average is $24.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 8.30 and a beta of 1.29.

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

MGIC Investment Dividend Announcement

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

Insider Activity

In other news, CAO Julie K. Sperber sold 4,600 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.05% of the company's stock.

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.