William Blair Investment Management LLC Grows Stock Position in MGIC Investment Co. (NYSE:MTG)

William Blair Investment Management LLC increased its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,364,725 shares of the insurance provider's stock after purchasing an additional 32,980 shares during the quarter. William Blair Investment Management LLC owned approximately 0.54% of MGIC Investment worth $32,358,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MTG. Oppenheimer & Co. Inc. purchased a new stake in shares of MGIC Investment during the 3rd quarter worth $635,000. KBC Group NV lifted its stake in shares of MGIC Investment by 16.4% during the 3rd quarter. KBC Group NV now owns 7,386 shares of the insurance provider's stock worth $189,000 after purchasing an additional 1,043 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in shares of MGIC Investment during the 3rd quarter worth $202,000. Natixis Advisors LLC lifted its stake in shares of MGIC Investment by 38.2% during the 3rd quarter. Natixis Advisors LLC now owns 152,404 shares of the insurance provider's stock worth $3,902,000 after purchasing an additional 42,088 shares during the last quarter. Finally, Lindenwold Advisors INC lifted its stake in shares of MGIC Investment by 3.7% during the 3rd quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider's stock worth $425,000 after purchasing an additional 592 shares during the last quarter. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on MTG. Keefe, Bruyette & Woods decreased their price target on 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. Bank of America cut MGIC Investment from a "buy" rating to an "underperform" rating and decreased their price target for the company from $26.00 to $25.00 in a research note on Monday, December 9th. Barclays increased their price target on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. UBS Group increased their price target on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Compass Point reiterated a "neutral" rating and issued a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $26.75.

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MGIC Investment Stock Performance

MGIC Investment stock traded down $0.19 during midday trading on Friday, hitting $23.52. 23,038,231 shares of the company were exchanged, compared to its average volume of 1,704,383. The firm has a market capitalization of $5.71 billion, a PE ratio of 8.11 and a beta of 1.28. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56. The business has a fifty day simple moving average of $24.29 and a two-hundred day simple moving average of $24.69. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, topping 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%. On average, sell-side analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment's dividend payout ratio (DPR) is 17.93%.

Insiders Place Their Bets

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the transaction, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.05% of the stock is currently owned by company insiders.

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.