Natixis Takes Position in MGIC Investment Co. (NYSE:MTG)

Natixis acquired a new position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 72,566 shares of the insurance provider's stock, valued at approximately $1,721,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its position in shares of MGIC Investment by 75.1% in the third quarter. Barclays PLC now owns 457,706 shares of the insurance provider's stock valued at $11,716,000 after acquiring an additional 196,252 shares in the last quarter. World Investment Advisors LLC purchased a new position in MGIC Investment in the 3rd quarter valued at about $619,000. Franklin Resources Inc. boosted its stake in shares of MGIC Investment by 6.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock worth $41,836,000 after purchasing an additional 98,369 shares during the last quarter. DGS Capital Management LLC boosted its stake in shares of MGIC Investment by 6.2% during the 3rd quarter. DGS Capital Management LLC now owns 85,797 shares of the insurance provider's stock worth $2,196,000 after purchasing an additional 4,974 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of MGIC Investment by 4.5% during the fourth quarter. Nordea Investment Management AB now owns 424,767 shares of the insurance provider's stock worth $10,114,000 after buying an additional 18,399 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. UBS Group upped their target price on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Compass Point reissued a "neutral" rating and issued a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Finally, Barclays upped their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $26.50.

MGIC Investment Stock Performance

NYSE MTG opened at $24.22 on Wednesday. The business's 50-day simple moving average is $23.88 and its 200-day simple moving average is $24.48. The firm has a market capitalization of $5.87 billion, a P/E ratio of 8.35 and a beta of 0.93. MGIC Investment Co. has a 1-year low of $19.91 and a 1-year high of $26.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25.

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

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.15%. MGIC Investment's dividend payout ratio is currently 17.93%.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the company'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 transaction, the chief accounting officer now owns 75,070 shares in the company, valued at $1,842,968.50. This represents a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.05% of the stock is currently owned by corporate insiders.

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.

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