Vest Financial LLC Grows Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Vest Financial LLC lifted its holdings in MGIC Investment Co. (NYSE:MTG) by 33.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,485,140 shares of the insurance provider’s stock after acquiring an additional 371,882 shares during the period. Vest Financial LLC owned approximately 0.59% of MGIC Investment worth $35,213,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Creative Planning raised its stake in shares of MGIC Investment by 49.9% during the second quarter. Creative Planning now owns 17,924 shares of the insurance provider’s stock valued at $386,000 after purchasing an additional 5,969 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of MGIC Investment in the 2nd quarter worth approximately $622,000. SG Americas Securities LLC lifted its position in MGIC Investment by 11.1% in the 3rd quarter. SG Americas Securities LLC now owns 18,321 shares of the insurance provider’s stock valued at $469,000 after purchasing an additional 1,832 shares during the last quarter. GAMMA Investing LLC increased its position in MGIC Investment by 41.7% in the 3rd 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 period. Finally, CWM LLC raised its stake in shares of MGIC Investment by 116.1% during the third quarter. CWM LLC now owns 5,495 shares of the insurance provider’s stock valued at $141,000 after purchasing an additional 2,952 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

NYSE MTG opened at $25.30 on Friday. The company has a 50 day simple moving average of $24.49 and a 200-day simple moving average of $24.75. MGIC Investment Co. has a 52-week low of $18.68 and a 52-week high of $26.56. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 predict that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.06%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. 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 report on Wednesday, January 8th. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and decreased their target price for the company from $26.00 to $25.00 in a research note on Monday, December 9th. Compass Point reiterated a “neutral” rating and issued a $27.00 target price (up from $24.00) on shares of MGIC Investment in a report on Wednesday. Barclays raised their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Royal Bank of Canada dropped their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.25.

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.