Bank of New Hampshire Reduces Holdings in MGIC Investment Co. (NYSE:MTG)

Bank of New Hampshire reduced its stake in MGIC Investment Co. (NYSE:MTG) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,527 shares of the insurance provider’s stock after selling 5,857 shares during the period. Bank of New Hampshire’s holdings in MGIC Investment were worth $2,075,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Hara Capital LLC bought a new position in shares of MGIC Investment in the third quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new stake in MGIC Investment during the 3rd quarter valued at $33,000. Brooklyn Investment Group bought a new stake in MGIC Investment in the 3rd quarter worth $69,000. Covestor Ltd increased its position 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 valued at $87,000 after acquiring an additional 1,341 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of MGIC Investment by 41.7% during the third quarter. GAMMA Investing LLC now owns 4,352 shares of the insurance provider’s stock valued at $111,000 after acquiring an additional 1,281 shares during the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Stock Up 0.9 %

MTG traded up $0.22 during trading on Tuesday, reaching $23.65. The stock had a trading volume of 63,845 shares, compared to its average volume of 1,171,193. The stock’s 50 day moving average is $24.65 and its two-hundred day moving average is $24.37. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 1.75 and a beta of 1.29. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a one year low of $18.68 and a one year high of $26.56.

MGIC Investment (NYSE:MTG) last released its 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 firm had revenue of $306.65 million during 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 business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.64 earnings per share. As a group, analysts expect that MGIC Investment Co. will post 2.85 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.20%. MGIC Investment’s dividend payout ratio is currently 18.31%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barclays raised their target price 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. Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price target on shares of MGIC Investment in a research note on Tuesday, December 10th. Finally, 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 report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.