Oak Thistle LLC Increases Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Oak Thistle LLC increased its holdings in MGIC Investment Co. (NYSE:MTGFree Report) by 75.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,020 shares of the insurance provider’s stock after acquiring an additional 10,780 shares during the quarter. Oak Thistle LLC’s holdings in MGIC Investment were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vest Financial LLC lifted its position in MGIC Investment by 29.4% during the fourth quarter. Vest Financial LLC now owns 690,877 shares of the insurance provider’s stock valued at $13,327,000 after buying an additional 157,036 shares during the period. Invesco Ltd. lifted its position in 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 period. Virginia Retirement Systems ET AL purchased a new position in MGIC Investment during the second quarter valued at $11,829,000. LSV Asset Management lifted its position in MGIC Investment by 8.5% during the third quarter. LSV Asset Management now owns 10,427,565 shares of the insurance provider’s stock valued at $174,036,000 after buying an additional 820,182 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in MGIC Investment by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,792,357 shares of the insurance provider’s stock valued at $46,604,000 after buying an additional 40,502 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MTG shares. Roth Mkm raised their price objective on MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. UBS Group assumed coverage on MGIC Investment in a research report on Wednesday, December 6th. They set a “neutral” rating and a $18.50 price objective for the company. Finally, Royal Bank of Canada lifted their price target on MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.50.

Check Out Our Latest Analysis on MTG

MGIC Investment Price Performance

MTG opened at $21.68 on Thursday. The stock has a 50-day moving average price of $20.27 and a 200-day moving average price of $18.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $5.85 billion, a PE ratio of 8.70, a P/E/G ratio of 1.80 and a beta of 1.24. MGIC Investment Co. has a 1 year low of $13.11 and a 1 year high of $22.43.

MGIC Investment (NYSE:MTGGet Free Report) last released its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. The company had revenue of $284.72 million during the quarter, compared to the consensus estimate of $302.96 million. Sell-side analysts predict that MGIC Investment Co. will post 2.43 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Thursday, February 15th were issued a $0.115 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.46 annualized dividend and a yield of 2.12%. MGIC Investment’s payout ratio is 18.47%.

MGIC Investment Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

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