Lighthouse Investment Partners LLC Purchases Shares of 74,516 MGIC Investment Co. (NYSE:MTG)

Lighthouse Investment Partners LLC bought a new stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 74,516 shares of the insurance provider's stock, valued at approximately $1,606,000.

Several other large investors have also modified their holdings of MTG. Jupiter Asset Management Ltd. boosted its position in shares of MGIC Investment by 134.8% during the first quarter. Jupiter Asset Management Ltd. now owns 1,537,972 shares of the insurance provider's stock valued at $34,389,000 after buying an additional 882,984 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of MGIC Investment by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider's stock valued at $326,375,000 after acquiring an additional 556,859 shares in the last quarter. WINTON GROUP Ltd raised its stake in shares of MGIC Investment by 440.3% during the second quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider's stock valued at $11,228,000 after acquiring an additional 424,580 shares in the last quarter. First Trust Advisors LP raised its stake in shares of MGIC Investment by 3.6% during the fourth quarter. First Trust Advisors LP now owns 12,067,181 shares of the insurance provider's stock valued at $232,776,000 after acquiring an additional 415,628 shares in the last quarter. Finally, Vest Financial LLC raised its stake in shares of MGIC Investment by 22.7% during the second quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider's stock valued at $23,139,000 after acquiring an additional 198,553 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 recently weighed in on MTG shares. BTIG Research lifted their price target on shares of MGIC Investment from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Roth Mkm lifted their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Barclays boosted their price objective on shares of MGIC Investment from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. Finally, Keefe, Bruyette & Woods raised shares of MGIC Investment from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $24.00 to $25.00 in a research note on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, MGIC Investment currently has an average rating of "Hold" and an average price target of $24.33.

MGIC Investment Stock Down 0.0 %

NYSE MTG traded down $0.01 on Friday, hitting $25.37. The stock had a trading volume of 873,823 shares, compared to its average volume of 1,807,973. The business's fifty day moving average price is $24.59 and its 200 day moving average price is $22.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.11 and a quick ratio of 1.11. MGIC Investment Co. has a 52-week low of $16.30 and a 52-week high of $25.93. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.15. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The business had revenue of $305.28 million for the quarter, compared to analyst estimates of $301.02 million. During the same period in the previous year, the company earned $0.68 earnings per share. The business's revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts anticipate that MGIC Investment Co. will post 2.76 earnings per share for the current year.

MGIC Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, August 8th. This is a positive change from MGIC Investment's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. MGIC Investment's payout ratio is 20.00%.

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.