MGIC Investment Co. (NYSE:MTG) Stock Position Decreased by KLCM Advisors Inc.

KLCM Advisors Inc. lessened its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 1.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 142,472 shares of the insurance provider’s stock after selling 2,000 shares during the quarter. KLCM Advisors Inc.’s holdings in MGIC Investment were worth $2,748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its position in MGIC Investment by 13.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 103,446 shares of the insurance provider’s stock worth $1,402,000 after purchasing an additional 12,256 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of MGIC Investment in the 1st quarter worth approximately $230,000. Natixis Advisors L.P. lifted its stake in shares of MGIC Investment by 42.1% in the 1st quarter. Natixis Advisors L.P. now owns 25,204 shares of the insurance provider’s stock worth $342,000 after acquiring an additional 7,472 shares during the period. MetLife Investment Management LLC lifted its stake in shares of MGIC Investment by 31.3% in the 1st quarter. MetLife Investment Management LLC now owns 207,142 shares of the insurance provider’s stock worth $2,807,000 after acquiring an additional 49,361 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of MGIC Investment by 8.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 117,400 shares of the insurance provider’s stock worth $1,591,000 after acquiring an additional 9,454 shares during the period. Institutional investors own 95.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MTG shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $24.00 price target (up from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Roth Mkm increased their target price on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada increased their target price on shares of MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.08.

MGIC Investment Trading Down 0.4 %

Shares of NYSE:MTG traded down $0.08 during mid-day trading on Wednesday, hitting $19.50. The stock had a trading volume of 2,819,753 shares, compared to its average volume of 1,912,735. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $5.26 billion, a PE ratio of 7.83, a P/E/G ratio of 1.61 and a beta of 1.24. MGIC Investment Co. has a 12-month low of $13.97 and a 12-month high of $22.43. The company’s 50 day moving average is $20.32 and its 200-day moving average is $18.98.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $284.72 million during the quarter, compared to the consensus estimate of $302.96 million. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. On average, sell-side analysts predict that MGIC Investment Co. will post 2.43 EPS for the current year.

MGIC Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Thursday, February 15th were paid a $0.115 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.46 annualized dividend and a yield of 2.36%. MGIC Investment’s dividend payout ratio is presently 18.47%.

MGIC Investment Company 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.