Ontario Teachers Pension Plan Board Has $1.66 Million Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Ontario Teachers Pension Plan Board raised its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 24.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,976 shares of the insurance provider's stock after purchasing an additional 13,564 shares during the period. Ontario Teachers Pension Plan Board's holdings in MGIC Investment were worth $1,659,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in MGIC Investment in the fourth quarter valued at approximately $85,908,000. Invesco Ltd. lifted its holdings in MGIC Investment by 16.6% in the 4th quarter. Invesco Ltd. now owns 4,766,195 shares of the insurance provider's stock worth $113,006,000 after buying an additional 677,227 shares in the last quarter. Barclays PLC increased its stake in shares of MGIC Investment by 123.5% in the fourth quarter. Barclays PLC now owns 1,023,175 shares of the insurance provider's stock worth $24,260,000 after buying an additional 565,469 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in MGIC Investment by 8.2% during the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock worth $130,289,000 after buying an additional 415,586 shares during the last quarter. Finally, Amundi bought a new stake in MGIC Investment during the fourth quarter valued at $8,914,000. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MTG has been the topic of a number of research analyst reports. Compass Point reissued a "neutral" rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. UBS Group boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods lowered their target price on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays raised their price target on MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $26.50.

MGIC Investment Stock Up 0.8 %

MTG traded up $0.19 during trading on Friday, hitting $24.03. The company had a trading volume of 1,681,155 shares, compared to its average volume of 1,803,598. The firm's 50-day moving average price is $23.90 and its 200 day moving average price is $24.51. The company has a market capitalization of $5.83 billion, a PE ratio of 8.28 and a beta of 0.93. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a one year low of $19.57 and a one year high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. As a group, equities analysts expect 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. Shareholders of record on Tuesday, February 18th were paid 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 2.16%. MGIC Investment's dividend payout ratio is 17.93%.

Insiders Place Their Bets

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the sale, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.41% of the company's stock.

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.