BNP Paribas Financial Markets Grows Position in MGIC Investment Co. (NYSE:MTG)

BNP Paribas Financial Markets grew its position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 26.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 307,547 shares of the insurance provider's stock after buying an additional 63,473 shares during the period. BNP Paribas Financial Markets owned approximately 0.12% of MGIC Investment worth $7,873,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Comerica Bank increased its stake in MGIC Investment by 15.0% in the first quarter. Comerica Bank now owns 151,939 shares of the insurance provider's stock valued at $3,397,000 after acquiring an additional 19,841 shares during the last quarter. GAMMA Investing LLC grew its holdings in MGIC Investment by 76.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider's stock worth $66,000 after acquiring an additional 1,328 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of MGIC Investment by 482.7% during the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 946 shares during the last quarter. Ellenbecker Investment Group acquired a new position in shares of MGIC Investment during the second quarter worth $456,000. Finally, QRG Capital Management Inc. grew its stake in shares of MGIC Investment by 7.7% in the second quarter. QRG Capital Management Inc. now owns 15,152 shares of the insurance provider's stock worth $327,000 after purchasing an additional 1,081 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, October 8th. Royal Bank of Canada lowered 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 report on Wednesday, November 6th. Finally, BTIG Research increased their price target on MGIC Investment from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.50.

MGIC Investment Price Performance

Shares of NYSE:MTG traded down $0.10 during trading on Tuesday, reaching $25.93. The company had a trading volume of 526,520 shares, compared to its average volume of 1,737,611. MGIC Investment Co. has a 12 month low of $17.42 and a 12 month high of $26.56. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $6.57 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 1.88 and a beta of 1.27. The company has a fifty day moving average of $25.27 and a two-hundred day moving average of $23.77.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The business had revenue of $306.65 million for the quarter, compared to analysts' expectations of $306.03 million. During the same period last year, the business earned $0.64 earnings per share. The business's quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that MGIC Investment Co. will post 2.85 earnings per share for the current year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 annualized dividend and a yield of 2.01%. MGIC Investment's dividend payout ratio (DPR) is presently 18.31%.

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.