Adams Wealth Management Boosts Holdings in MGIC Investment Co. (NYSE:MTG)

Adams Wealth Management raised its position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,474 shares of the insurance provider's stock after acquiring an additional 11,384 shares during the period. Adams Wealth Management's holdings in MGIC Investment were worth $2,880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTG. Barclays PLC lifted its position in MGIC Investment by 75.1% during the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider's stock worth $11,716,000 after acquiring an additional 196,252 shares during the period. Sanctuary Advisors LLC grew its stake in MGIC Investment by 395.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 150,637 shares of the insurance provider's stock valued at $3,841,000 after acquiring an additional 120,257 shares during the period. World Investment Advisors LLC purchased a new position in MGIC Investment in the 3rd quarter valued at $619,000. Franklin Resources Inc. grew its holdings in MGIC Investment by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock valued at $41,836,000 after buying an additional 98,369 shares in the last quarter. Finally, DGS Capital Management LLC increased its stake in MGIC Investment by 6.2% during the third quarter. DGS Capital Management LLC now owns 85,797 shares of the insurance provider's stock worth $2,196,000 after acquiring an additional 4,974 shares during the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Stock Performance

Shares of MTG stock traded up $0.19 during mid-day trading on Friday, hitting $24.03. 1,681,155 shares of the stock were exchanged, compared to its average volume of 1,801,751. MGIC Investment Co. has a 12-month low of $19.32 and a 12-month 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. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 8.28 and a beta of 0.93. The stock's fifty day simple moving average is $23.92 and its two-hundred day simple moving average is $24.52.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping 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 forecast that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Tuesday, February 18th. MGIC Investment's dividend payout ratio (DPR) is 17.93%.

Insider Activity at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the business's 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Barclays boosted their target price 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. UBS Group increased their target price 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. Compass Point reaffirmed a "neutral" rating and set a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods decreased their target price on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $26.50.

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.