Sanctuary Advisors LLC Grows Stock Position in MGIC Investment Co. (NYSE:MTG)

Sanctuary Advisors LLC raised its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 395.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,637 shares of the insurance provider’s stock after acquiring an additional 120,257 shares during the quarter. Sanctuary Advisors LLC owned approximately 0.06% of MGIC Investment worth $3,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in shares of MGIC Investment by 0.4% during the 3rd 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 increased its position 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 buying an additional 565 shares in the last quarter. Lindenwold Advisors INC raised its holdings in shares of MGIC Investment by 3.7% in the third quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider’s stock worth $425,000 after acquiring an additional 592 shares during the last quarter. Fortem Financial Group LLC lifted its position in shares of 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 in the last quarter. Finally, Financial Strategies Group Inc. boosted its stake in shares of MGIC Investment by 9.2% during the third quarter. Financial Strategies Group Inc. now owns 11,440 shares of the insurance provider’s stock valued at $295,000 after acquiring an additional 966 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Price Performance

Shares of MGIC Investment stock opened at $24.70 on Tuesday. The stock has a market capitalization of $6.26 billion, a P/E ratio of 8.70, a PEG ratio of 1.77 and a beta of 1.27. 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 business’s fifty day moving average price is $25.21 and its 200 day moving average price is $24.08. MGIC Investment Co. has a twelve month low of $18.68 and a twelve month high of $26.56.

MGIC Investment (NYSE:MTG) last released 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. The business had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, research analysts anticipate that MGIC Investment Co. will post 2.85 earnings per share for the current year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Thursday, November 7th. MGIC Investment’s payout ratio is currently 18.31%.

Wall Street Analysts Forecast Growth

MTG has been the subject of several analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $29.00 target price on shares of MGIC Investment in a research note on Tuesday, December 10th. Royal Bank of Canada reduced their price objective 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. Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Finally, Barclays increased their price target 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. One investment 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, MGIC Investment has a consensus rating of “Hold” and a consensus target price of $26.00.

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.