Quest Partners LLC Has $3.04 Million Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Quest Partners LLC increased its position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 1,210.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,818 shares of the insurance provider's stock after acquiring an additional 109,751 shares during the quarter. Quest Partners LLC's holdings in MGIC Investment were worth $3,042,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MTG. State of Alaska Department of Revenue boosted its position in shares of MGIC Investment by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider's stock worth $3,858,000 after purchasing an additional 540 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in MGIC Investment by 1.6% during the second quarter. Nations Financial Group Inc. IA ADV now owns 35,306 shares of the insurance provider's stock worth $761,000 after acquiring an additional 565 shares in the last quarter. Fortem Financial Group LLC grew its stake in MGIC Investment by 1.0% in the second quarter. Fortem Financial Group LLC now owns 75,447 shares of the insurance provider's stock valued at $1,626,000 after acquiring an additional 747 shares during the period. Versant Capital Management Inc raised its position in shares of MGIC Investment by 482.7% during the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider's stock worth $25,000 after purchasing an additional 946 shares during the period. Finally, Financial Strategies Group Inc. lifted its holdings in shares of MGIC Investment by 9.2% during the 3rd quarter. Financial Strategies Group Inc. now owns 11,440 shares of the insurance provider's stock valued at $295,000 after purchasing an additional 966 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

MGIC Investment Stock Down 0.4 %

MTG traded down $0.11 on Monday, hitting $24.80. 968,958 shares of the company were exchanged, compared to its average volume of 1,763,072. MGIC Investment Co. has a 12 month low of $17.31 and a 12 month high of $26.52. The company has a market cap of $6.28 billion, a PE ratio of 8.73, a PEG ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. The stock's fifty day moving average is $25.18 and its 200-day moving average is $23.41.

MGIC Investment (NYSE:MTG - Get Free Report) last announced 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 firm had revenue of $306.65 million during the quarter, compared to analysts' expectations of $306.03 million. During the same quarter last year, the company posted $0.64 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts predict that MGIC Investment Co. will post 2.81 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a $0.13 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.10%. MGIC Investment's payout ratio is 18.31%.

Analysts Set New Price Targets

A number of analysts recently issued reports on MTG shares. 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 note on Tuesday, October 8th. Roth Mkm raised their price objective on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. BTIG Research upped their target price on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada dropped their price target on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, MGIC Investment presently has an average rating of "Moderate Buy" and an average target price of $25.50.

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.