Proficio Capital Partners LLC Buys Shares of 27,551 MGIC Investment Co. (NYSE:MTG)

Proficio Capital Partners LLC purchased a new position in MGIC Investment Co. (NYSE:MTG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,551 shares of the insurance provider's stock, valued at approximately $653,000.

Other large investors have also bought and sold shares of the company. UMB Bank n.a. grew its holdings in shares of MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock valued at $39,000 after buying an additional 938 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 918 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in MGIC Investment by 61.9% during the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock worth $49,000 after purchasing an additional 794 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of MGIC Investment in the third quarter worth approximately $69,000. Finally, CIBC Asset Management Inc bought a new position in shares of MGIC Investment in the third quarter valued at approximately $202,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction on Friday, February 21st. The shares were 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 directly owns 75,070 shares of the company's stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.05% of the company's stock.

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MGIC Investment Stock Performance

Shares of NYSE:MTG traded up $0.11 during mid-day trading on Thursday, reaching $24.85. The company had a trading volume of 2,262,570 shares, compared to its average volume of 2,302,472. The company's 50-day moving average price is $24.33 and its 200-day moving average price is $24.67. MGIC Investment Co. has a one year low of $19.26 and a one year high of $26.56. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 8.57 and a beta of 1.28. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.09%. MGIC Investment's payout ratio is 17.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Compass Point reiterated a "neutral" rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. UBS Group increased their target price 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. Barclays boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and cut their target price for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, MGIC Investment has a consensus rating of "Hold" and a consensus target price of $26.75.

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.