MGIC Investment Co. (NYSE:MTG) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its position in shares of MGIC Investment Co. (NYSE:MTG) by 3.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,781,278 shares of the insurance provider’s stock after acquiring an additional 57,853 shares during the quarter. Los Angeles Capital Management LLC’s holdings in MGIC Investment were worth $34,361,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Asset Management One Co. Ltd. purchased a new position in shares of MGIC Investment during the third quarter worth $650,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of MGIC Investment by 109.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 793,133 shares of the insurance provider’s stock worth $13,237,000 after buying an additional 413,561 shares during the last quarter. Xponance Inc. grew its holdings in MGIC Investment by 12.4% during the third quarter. Xponance Inc. now owns 39,550 shares of the insurance provider’s stock worth $660,000 after acquiring an additional 4,368 shares during the period. Raymond James & Associates raised its position in MGIC Investment by 6.1% during the third quarter. Raymond James & Associates now owns 54,372 shares of the insurance provider’s stock valued at $907,000 after acquiring an additional 3,108 shares in the last quarter. Finally, Brown Advisory Inc. lifted its holdings in MGIC Investment by 1.9% in the third quarter. Brown Advisory Inc. now owns 2,281,499 shares of the insurance provider’s stock valued at $38,078,000 after acquiring an additional 41,683 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTG has been the subject of several recent research reports. Roth Mkm lifted their target price on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada raised their price target on shares of MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $24.00 price objective (up previously from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.08.

MGIC Investment Trading Up 0.7 %

Shares of MTG stock traded up $0.14 on Friday, hitting $20.65. The stock had a trading volume of 2,072,463 shares, compared to its average volume of 2,053,955. The company’s 50 day moving average price is $20.55 and its 200-day moving average price is $19.21. MGIC Investment Co. has a 1 year low of $13.97 and a 1 year high of $22.43. The firm has a market capitalization of $5.57 billion, a P/E ratio of 7.94, a P/E/G ratio of 1.69 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98.

MGIC Investment (NYSE:MTG) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.05. MGIC Investment had a net margin of 62.85% and a return on equity of 15.13%. The firm had revenue of $294.40 million for the quarter, compared to the consensus estimate of $301.62 million. During the same period in the prior year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts anticipate that MGIC Investment Co. will post 2.43 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.46 annualized dividend and a yield of 2.23%. MGIC Investment’s dividend payout ratio (DPR) is 17.69%.

MGIC Investment Company 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.