Centric Wealth Management Has $2.14 Million Stock Position in MGIC Investment Co. (NYSE:MTG)

Centric Wealth Management increased its holdings in MGIC Investment Co. (NYSE:MTG) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,213 shares of the insurance provider’s stock after acquiring an additional 7,278 shares during the period. Centric Wealth Management’s holdings in MGIC Investment were worth $2,140,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of MGIC Investment by 47.3% during the third quarter. Invesco Ltd. now owns 3,174,560 shares of the insurance provider’s stock valued at $52,983,000 after buying an additional 1,019,759 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of MGIC Investment by 30.3% during the 3rd quarter. AQR Capital Management LLC now owns 4,233,477 shares of the insurance provider’s stock worth $70,657,000 after buying an additional 985,512 shares in the last quarter. LSV Asset Management grew its holdings in shares of MGIC Investment by 8.5% in the third quarter. LSV Asset Management now owns 10,427,565 shares of the insurance provider’s stock valued at $174,036,000 after acquiring an additional 820,182 shares in the last quarter. FMR LLC increased its holdings in MGIC Investment by 26.7% during the third quarter. FMR LLC now owns 3,829,710 shares of the insurance provider’s stock worth $63,918,000 after buying an additional 807,637 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in MGIC Investment by 302.3% in the third quarter. Acadian Asset Management LLC now owns 661,778 shares of the insurance provider’s stock worth $11,034,000 after acquiring an additional 497,261 shares during the period. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

MTG traded down $0.15 during trading on Wednesday, reaching $20.92. 749,590 shares of the company were exchanged, compared to its average volume of 2,036,741. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.13. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 8.15, a P/E/G ratio of 1.67 and a beta of 1.24. MGIC Investment Co. has a 12-month low of $14.51 and a 12-month high of $22.43. The company’s 50-day moving average is $20.65 and its two-hundred day moving average is $19.32.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.60 by $0.05. The company had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $301.62 million. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. MGIC Investment’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 earnings per share. Research analysts forecast that MGIC Investment Co. will post 2.48 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Thursday, May 9th will be issued a $0.115 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.46 annualized dividend and a dividend yield of 2.20%. MGIC Investment’s payout ratio is currently 17.69%.

Analyst Ratings Changes

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

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.