GSA Capital Partners LLP Purchases 58,664 Shares of MGIC Investment Co. (NYSE:MTG)

GSA Capital Partners LLP boosted its stake in MGIC Investment Co. (NYSE:MTG) by 154.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,732 shares of the insurance provider’s stock after buying an additional 58,664 shares during the quarter. GSA Capital Partners LLP’s holdings in MGIC Investment were worth $2,476,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Hara Capital LLC acquired a new position in MGIC Investment in the third quarter worth $25,000. Versant Capital Management Inc increased its holdings in MGIC Investment by 482.7% in the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 946 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in MGIC Investment in the third quarter valued at about $33,000. GAMMA Investing LLC increased its holdings in shares of MGIC Investment by 76.2% in the second quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider’s stock worth $66,000 after acquiring an additional 1,328 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of MGIC Investment by 65.5% in 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 in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Stock Performance

MTG stock opened at $24.91 on Tuesday. The stock has a 50-day moving average price of $25.22 and a 200-day moving average price of $23.26. MGIC Investment Co. has a 1-year low of $17.25 and a 1-year high of $26.52. The company has a current ratio of 1.25, a quick ratio of 1.11 and a debt-to-equity ratio of 0.12. The firm has a market cap of $6.31 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. The business had revenue of $306.65 million during 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 firm’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, equities research analysts expect that MGIC Investment Co. will post 2.81 earnings per share for the current year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.09%. MGIC Investment’s payout ratio is presently 18.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MTG shares. Royal Bank of Canada lowered their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. BTIG Research upped their price objective on MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Roth Mkm upped their price objective on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays increased their price target on MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.50.

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.