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

New Age Alpha Advisors LLC bought a new stake in MGIC Investment Co. (NYSE:MTG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 36,567 shares of the insurance provider's stock, valued at approximately $867,000.

Several other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in MGIC Investment in the fourth quarter worth approximately $85,908,000. Caisse Des Depots ET Consignations purchased a new position in shares of MGIC Investment during the 4th quarter worth $670,000. Elo Mutual Pension Insurance Co acquired a new stake in shares of MGIC Investment during the 4th quarter worth about $561,000. KLP Kapitalforvaltning AS purchased a new stake in MGIC Investment in the 4th quarter valued at about $1,982,000. Finally, AXQ Capital LP acquired a new position in MGIC Investment in the fourth quarter valued at about $242,000. Hedge funds and other institutional investors own 95.58% of the company's stock.

Insider Buying and Selling

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now owns 75,070 shares of the company's stock, valued at $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.05% of the company's stock.

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MGIC Investment Stock Performance

Shares of MTG stock traded down $1.24 during mid-day trading on Thursday, hitting $24.32. The stock had a trading volume of 2,255,182 shares, compared to its average volume of 1,787,657. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week 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. The company's 50-day simple moving average is $24.38 and its 200-day simple moving average is $24.68. The firm has a market cap of $5.90 billion, a PE ratio of 8.38 and a beta of 1.28.

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 return on equity of 14.86% and a net margin of 63.18%. Sell-side analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.14%. MGIC Investment's payout ratio is 17.93%.

Wall Street Analyst Weigh In

MTG has been the subject of a number of recent analyst reports. Barclays lifted 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 report on Wednesday, February 5th. Compass Point reissued a "neutral" rating and issued a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods lowered their price target 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. Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and cut their price objective for the company from $26.00 to $25.00 in a report on Monday, December 9th. Finally, UBS Group upped their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat, MGIC Investment presently has an average rating of "Hold" and a consensus target price of $26.75.

MGIC Investment Company 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.