Yousif Capital Management LLC Takes $2.52 Million Position in MGIC Investment Co. (NYSE:MTG)

Yousif Capital Management LLC purchased a new stake in shares of MGIC Investment Co. (NYSE:MTG – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 174,571 shares of the insurance provider’s stock, valued at approximately $2,517,000. Yousif Capital Management LLC owned 0.05% of MGIC Investment at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JJJ Advisors Inc. raised its holdings in MGIC Investment by 122.8% in the 3rd quarter. JJJ Advisors Inc. now owns 3,509 shares of the insurance provider’s stock worth $52,000 after purchasing an additional 1,934 shares during the period. Van ECK Associates Corp raised its holdings in MGIC Investment by 59.2% in the 3rd quarter. Van ECK Associates Corp now owns 6,372 shares of the insurance provider’s stock worth $95,000 after purchasing an additional 2,370 shares during the period. Janney Montgomery Scott LLC purchased a new stake in MGIC Investment in the 3rd quarter worth $153,000. Convergence Investment Partners LLC purchased a new stake in MGIC Investment in the 3rd quarter worth $174,000. Finally, US Bancorp DE increased its stake in MGIC Investment by 37.1% in the 3rd quarter. US Bancorp DE now owns 13,103 shares of the insurance provider’s stock worth $196,000 after buying an additional 3,548 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

MGIC Investment stock opened at $13.03 on Monday. The company has a 50 day moving average price of $14.57 and a 200-day moving average price of $15.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.46 and a current ratio of 0.46. MGIC Investment Co. has a fifty-two week low of $12.85 and a fifty-two week high of $16.84. The company has a market capitalization of $4.11 billion, a PE ratio of 7.04, a P/E/G ratio of 1.25 and a beta of 1.58.

MGIC Investment (NYSE:MTG – Get Rating) last posted its quarterly earnings results on Wednesday, February 2nd. The insurance provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.16. The firm had revenue of $294.12 million during the quarter, compared to the consensus estimate of $290.90 million. MGIC Investment had a net margin of 53.56% and a return on equity of 13.59%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. On average, analysts forecast that MGIC Investment Co. will post 2.09 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 2nd. Investors of record on Wednesday, February 16th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Tuesday, February 15th. MGIC Investment’s dividend payout ratio (DPR) is 17.30%.

MTG has been the subject of a number of analyst reports. Barclays increased their price target on MGIC Investment from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, January 10th. StockNews.com initiated coverage on MGIC Investment in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded MGIC Investment from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research note on Tuesday, January 11th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.07.

MGIC Investment Company Profile (Get Rating)

MGIC Investment Corp. is a private mortgage insurer that serves lenders throughout the United States, and Puerto Rico. It also provides lenders with underwriting and other services and products related to home mortgage lending through its subsidiaries, such as Mortgage Guaranty Insurance Corp. and MGIC Indemnity Corp.

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