Ritholtz Wealth Management Has $2.17 Million Stock Position in MGIC Investment Co. (NYSE:MTG)

Ritholtz Wealth Management raised its holdings in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 13.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,690 shares of the insurance provider's stock after acquiring an additional 10,864 shares during the quarter. Ritholtz Wealth Management's holdings in MGIC Investment were worth $2,174,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Franklin Resources Inc. grew its position in MGIC Investment by 6.5% during the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock valued at $41,836,000 after purchasing an additional 98,369 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of MGIC Investment by 154.1% during the 3rd quarter. GSA Capital Partners LLP now owns 96,732 shares of the insurance provider's stock valued at $2,476,000 after acquiring an additional 58,664 shares in the last quarter. Vestcor Inc increased its stake in shares of MGIC Investment by 559.3% in the third quarter. Vestcor Inc now owns 60,094 shares of the insurance provider's stock worth $1,538,000 after acquiring an additional 50,979 shares during the last quarter. Hancock Whitney Corp purchased a new stake in shares of MGIC Investment during the third quarter worth $777,000. Finally, Mackenzie Financial Corp boosted its position in MGIC Investment by 2.9% during the second quarter. Mackenzie Financial Corp now owns 879,674 shares of the insurance provider's stock valued at $18,957,000 after purchasing an additional 24,627 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

MGIC Investment Price Performance

NYSE MTG traded up $0.14 on Friday, hitting $24.48. 1,954,303 shares of the company were exchanged, compared to its average volume of 1,449,867. MGIC Investment Co. has a 1-year low of $18.68 and a 1-year high of $26.56. The firm has a 50 day moving average of $24.51 and a two-hundred day moving average of $24.49. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The company has a market cap of $6.20 billion, a P/E ratio of 8.62, a P/E/G ratio of 1.72 and a beta of 1.29.

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

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.12%. The ex-dividend date was Thursday, November 7th. MGIC Investment's dividend payout ratio is 18.31%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank of Canada dropped their target price on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 6th. Bank of America lowered shares of MGIC Investment from a "buy" rating to an "underperform" rating and dropped their price target for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Barclays lifted their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods cut their target price on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $25.86.

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.