EMC Capital Management Purchases 30,596 Shares of MGIC Investment Co. (NYSE:MTG)

EMC Capital Management raised its position in shares of MGIC Investment Co. (NYSE:MTG) by 1,225.3% in the fourth quarter, Holdings Channel reports. The firm owned 33,093 shares of the insurance provider’s stock after acquiring an additional 30,596 shares during the quarter. MGIC Investment accounts for 0.4% of EMC Capital Management’s holdings, making the stock its 14th biggest holding. EMC Capital Management’s holdings in MGIC Investment were worth $785,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Hara Capital LLC bought a new stake in MGIC Investment in the 3rd quarter worth about $25,000. V Square Quantitative Management LLC purchased a new stake in shares of MGIC Investment during the 3rd quarter valued at about $33,000. UMB Bank n.a. grew its stake in shares of MGIC Investment by 131.9% in the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 938 shares during the period. Brooklyn Investment Group purchased a new position in shares of MGIC Investment during the third quarter valued at approximately $69,000. Finally, Covestor Ltd lifted its position in MGIC Investment by 65.5% during the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock valued at $87,000 after purchasing an additional 1,341 shares during the period. 95.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on MTG. Keefe, Bruyette & Woods cut their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. Barclays lifted their price objective on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and lowered their target price for the company from $26.00 to $25.00 in a report on Monday, December 9th. Finally, 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.86.

MGIC Investment Price Performance

NYSE MTG opened at $25.60 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. The business’s fifty day moving average is $24.53 and its 200 day moving average is $24.66. The company has a market capitalization of $6.49 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29. MGIC Investment Co. has a fifty-two week low of $18.68 and a fifty-two week high of $26.56.

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

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. MGIC Investment’s payout ratio is 18.31%.

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.