IFP Advisors Inc Acquires 1,067 Shares of MGIC Investment Co. (NYSE:MTG)

IFP Advisors Inc increased its position in MGIC Investment Co. (NYSE:MTG – Get Rating) by 39.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,786 shares of the insurance provider’s stock after purchasing an additional 1,067 shares during the period. IFP Advisors Inc’s holdings in MGIC Investment were worth $41,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its stake in shares of MGIC Investment by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 162,220 shares of the insurance provider’s stock worth $2,108,000 after acquiring an additional 766 shares during the last quarter. Van ECK Associates Corp lifted its holdings in MGIC Investment by 9.9% in the third quarter. Van ECK Associates Corp now owns 8,930 shares of the insurance provider’s stock valued at $114,000 after acquiring an additional 804 shares during the period. Janney Montgomery Scott LLC lifted its holdings in MGIC Investment by 3.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 27,117 shares of the insurance provider’s stock valued at $353,000 after acquiring an additional 943 shares during the period. Advisors Capital Management LLC lifted its holdings in MGIC Investment by 0.3% in the third quarter. Advisors Capital Management LLC now owns 305,871 shares of the insurance provider’s stock valued at $4,096,000 after acquiring an additional 968 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of MGIC Investment by 6.6% in the third quarter. Captrust Financial Advisors now owns 17,046 shares of the insurance provider’s stock worth $219,000 after buying an additional 1,060 shares during the period. 96.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gary A. Poliner sold 8,296 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $13.92, for a total value of $115,480.32. Following the completion of the transaction, the director now owns 8,821 shares of the company’s stock, valued at approximately $122,788.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.05% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Compass Point upgraded MGIC Investment from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday, April 11th. StockNews.com initiated coverage on MGIC Investment in a research note on Thursday. They set a “hold” rating for the company. Finally, Roth Capital reaffirmed a “buy” rating on shares of MGIC Investment in a research report on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.20.

MGIC Investment Stock Up 1.8 %

Shares of MTG stock opened at $15.43 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.69 and a quick ratio of 0.69. The stock’s fifty day moving average price is $13.83 and its 200 day moving average price is $13.60. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 5.55, a price-to-earnings-growth ratio of 1.35 and a beta of 1.34. MGIC Investment Co. has a 1-year low of $11.38 and a 1-year high of $15.76.

MGIC Investment (NYSE:MTG – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. MGIC Investment had a return on equity of 18.77% and a net margin of 72.70%. The business had revenue of $284.00 million for the quarter, compared to the consensus estimate of $291.89 million. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, research analysts expect that MGIC Investment Co. will post 2.19 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, May 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.59%. MGIC Investment’s payout ratio is 14.39%.

MGIC Investment Company Profile

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MGIC Investment Corp. is a holding company, which engages in the provision of mortgage insurance, other mortgage credit risk management solutions, and ancillary services. The company was founded by Max Karl in 1957 and is headquartered in Milwaukee, WI.