Quantinno Capital Management LP Purchases 35,125 Shares of MGIC Investment Co. (NYSE:MTG)

Quantinno Capital Management LP lifted its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 50.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,392 shares of the insurance provider's stock after acquiring an additional 35,125 shares during the quarter. Quantinno Capital Management LP's holdings in MGIC Investment were worth $2,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in MTG. Dimensional Fund Advisors LP grew its holdings in MGIC Investment by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider's stock worth $326,375,000 after acquiring an additional 556,859 shares during the period. American Century Companies Inc. lifted its holdings in shares of MGIC Investment by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider's stock worth $73,167,000 after purchasing an additional 50,307 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in MGIC Investment by 0.3% during the second quarter. Los Angeles Capital Management LLC now owns 1,438,727 shares of the insurance provider's stock worth $31,005,000 after buying an additional 4,602 shares during the last quarter. Vest Financial LLC boosted its stake in MGIC Investment by 3.7% during the 3rd quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider's stock valued at $28,499,000 after purchasing an additional 39,502 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of MGIC Investment by 2.9% in the second quarter. Mackenzie Financial Corp now owns 879,674 shares of the insurance provider's stock worth $18,957,000 after purchasing an additional 24,627 shares during the last quarter. Institutional investors own 95.58% of the company's stock.

Analyst Ratings Changes

MTG has been the subject of several analyst reports. Royal Bank of Canada decreased their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating for the company in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $29.00 price objective on shares of MGIC Investment in a report on Tuesday. Barclays increased their target price on MGIC Investment from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 8th. Finally, Bank of America lowered MGIC Investment from a "buy" rating to an "underperform" rating and reduced their target price for the company from $26.00 to $25.00 in a report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $26.00.

MGIC Investment Trading Up 0.5 %

Shares of MTG stock traded up $0.12 on Tuesday, hitting $24.75. 766,585 shares of the company's stock traded hands, compared to its average volume of 1,731,427. The company's fifty day simple moving average is $25.28 and its 200 day simple moving average is $23.93. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. MGIC Investment Co. has a one year low of $18.04 and a one year high of $26.56. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 1.82 and a beta of 1.27.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The company had revenue of $306.65 million during the quarter, compared to analyst estimates of $306.03 million. During the same period in the prior year, the business posted $0.64 EPS. The firm's revenue was up 3.4% compared to the same quarter last year. Equities analysts forecast that MGIC Investment Co. will post 2.85 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Thursday, November 7th. MGIC Investment's dividend payout ratio is currently 18.31%.

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.