Taika Capital LP Purchases New Position in MGIC Investment Co. (NYSE:MTG)

Taika Capital LP bought a new stake in MGIC Investment Co. (NYSE:MTG - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 161,041 shares of the insurance provider's stock, valued at approximately $4,123,000. MGIC Investment accounts for about 3.1% of Taika Capital LP's holdings, making the stock its 16th biggest position. Taika Capital LP owned 0.06% of MGIC Investment as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of MTG. Hara Capital LLC bought a new stake in shares of MGIC Investment during the third quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in MGIC Investment in the 3rd quarter valued at about $33,000. Brooklyn Investment Group acquired a new stake in MGIC Investment in the 3rd quarter valued at about $69,000. GAMMA Investing LLC lifted its stake in MGIC Investment by 76.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider's stock valued at $66,000 after purchasing an additional 1,328 shares during the last quarter. Finally, Covestor Ltd lifted its position in MGIC Investment by 65.5% during the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider's stock worth $87,000 after acquiring an additional 1,341 shares during the last quarter. Institutional investors own 95.58% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MTG shares. Barclays lifted their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 8th. Royal Bank of Canada decreased their target price on shares of 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, MGIC Investment currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.50.

MGIC Investment Stock Down 1.3 %

Shares of NYSE MTG traded down $0.34 during trading on Friday, hitting $25.36. 479,562 shares of the company traded hands, compared to its average volume of 1,731,890. The business's fifty day moving average is $25.30 and its 200 day moving average is $23.83. MGIC Investment Co. has a fifty-two week low of $17.42 and a fifty-two week high of $26.56. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 1.85 and a beta of 1.27. 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 (NYSE:MTG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 earnings per share 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 firm had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The business's quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts predict that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal 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 $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Thursday, November 7th. MGIC Investment's payout ratio is 18.31%.

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.