MGIC Investment Co. (NYSE:MTG) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC increased its position in MGIC Investment Co. (NYSE:MTG) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,881 shares of the insurance provider’s stock after buying an additional 11,477 shares during the period. Natixis Advisors LLC owned about 0.06% of MGIC Investment worth $3,886,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc acquired a new position in MGIC Investment during the third quarter worth approximately $202,000. Connor Clark & Lunn Investment Management Ltd. increased its position in MGIC Investment by 369.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 57,722 shares of the insurance provider’s stock worth $1,478,000 after purchasing an additional 45,419 shares during the last quarter. Larson Financial Group LLC increased its position in MGIC Investment by 3.2% during the third quarter. Larson Financial Group LLC now owns 105,432 shares of the insurance provider’s stock worth $2,699,000 after purchasing an additional 3,220 shares during the last quarter. Hancock Whitney Corp acquired a new position in MGIC Investment during the third quarter worth approximately $777,000. Finally, Brooklyn Investment Group acquired a new position in MGIC Investment during the third quarter worth approximately $69,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MTG. Barclays upped their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. UBS Group boosted their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Finally, Compass Point reiterated a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.75.

MGIC Investment Price Performance

Shares of MTG stock opened at $23.52 on Friday. The company has a market capitalization of $5.71 billion, a PE ratio of 8.11 and a beta of 1.28. The firm has a fifty day simple moving average of $24.29 and a 200-day simple moving average of $24.69. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a twelve month low of $19.26 and a twelve month high of $26.56.

MGIC Investment (NYSE:MTG) last announced its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Equities research analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.21%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Insider Activity

In related news, CAO Julie K. Sperber sold 4,600 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.05% of the company’s stock.

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.