New Age Alpha Advisors LLC Makes New Investment in MGIC Investment Co. (NYSE:MTG)

New Age Alpha Advisors LLC purchased a new stake in MGIC Investment Co. (NYSE:MTG - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 36,567 shares of the insurance provider's stock, valued at approximately $867,000.

Several other hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. increased its position in shares of MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock worth $39,000 after purchasing an additional 938 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock worth $43,000 after buying an additional 918 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of MGIC Investment by 61.9% in the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock valued at $49,000 after acquiring an additional 794 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of MGIC Investment by 21.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock worth $55,000 after acquiring an additional 419 shares in the last quarter. Finally, Savant Capital LLC grew its position in MGIC Investment by 11.8% during the 4th quarter. Savant Capital LLC now owns 8,857 shares of the insurance provider's stock worth $210,000 after acquiring an additional 933 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $1,842,968.50. This represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.05% of the company's stock.

MGIC Investment Trading Down 5.1 %

Shares of NYSE MTG traded down $1.23 during mid-day trading on Friday, hitting $23.09. The company's stock had a trading volume of 3,169,312 shares, compared to its average volume of 1,784,531. 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 $5.60 billion, a price-to-earnings ratio of 7.96 and a beta of 1.28. The company's fifty day simple moving average is $24.33 and its 200-day simple moving average is $24.65. MGIC Investment Co. has a one year low of $19.26 and a one year high of $26.56.

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, 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, sell-side analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.25%. MGIC Investment's dividend payout ratio is presently 17.93%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MTG shares. Keefe, Bruyette & Woods cut their price objective on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a research report on Wednesday, January 8th. Compass Point reaffirmed a "neutral" rating and issued a $27.00 price target (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. UBS Group increased their price objective 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. Bank of America downgraded shares of 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 research note on Monday, December 9th. Finally, Barclays increased their price target 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 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 MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $26.75.

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.