NFC Investments LLC Has $48.60 Million Stock Holdings in MGIC Investment Co. (NYSE:MTG)

NFC Investments LLC decreased its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 0.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,898,282 shares of the insurance provider’s stock after selling 13,000 shares during the period. MGIC Investment makes up approximately 14.0% of NFC Investments LLC’s holdings, making the stock its 2nd largest holding. NFC Investments LLC’s holdings in MGIC Investment were worth $48,596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTG. State of Alaska Department of Revenue grew its holdings in MGIC Investment by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock valued at $3,858,000 after buying 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 acquiring an additional 565 shares during the period. Lindenwold Advisors INC raised its stake in MGIC Investment by 3.7% in 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 in the last quarter. Fortem Financial Group LLC boosted its holdings in MGIC Investment by 1.0% in the 2nd quarter. Fortem Financial Group LLC now owns 75,447 shares of the insurance provider’s stock valued at $1,626,000 after purchasing an additional 747 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of MGIC Investment by 482.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 946 shares in the last quarter. 95.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

MGIC Investment Price Performance

Shares of MTG stock traded down $0.05 on Tuesday, hitting $25.98. 64,843 shares of the company’s stock were exchanged, compared to its average volume of 1,735,702. MGIC Investment Co. has a 12 month low of $17.42 and a 12 month high of $26.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. The company has a 50 day moving average of $25.27 and a 200 day moving average of $23.77. The stock has a market cap of $6.58 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 1.88 and a beta of 1.27.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.11. The company had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. On average, equities research analysts predict that MGIC Investment Co. will post 2.85 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is currently 18.31%.

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.