Asset Management One Co. Ltd. Acquires 812 Shares of MGIC Investment Co. (NYSE:MTG)

Asset Management One Co. Ltd. lifted its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,747 shares of the insurance provider’s stock after purchasing an additional 812 shares during the period. Asset Management One Co. Ltd.’s holdings in MGIC Investment were worth $774,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Lazard Asset Management LLC acquired a new position in MGIC Investment in the first quarter valued at approximately $26,000. Blue Trust Inc. lifted its position in shares of MGIC Investment by 49.2% during the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock valued at $50,000 after acquiring an additional 849 shares during the period. Industrial Alliance Investment Management Inc. boosted its stake in MGIC Investment by 374.0% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 3,925 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 3,097 shares in the last quarter. Planned Solutions Inc. acquired a new stake in MGIC Investment in the fourth quarter worth $66,000. Finally, USA Financial Formulas bought a new stake in MGIC Investment in the third quarter valued at $100,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analysts Set New Price Targets

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

MGIC Investment Trading Down 0.8 %

MTG opened at $19.74 on Friday. The firm has a market capitalization of $5.32 billion, a PE ratio of 7.93, a P/E/G ratio of 1.64 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. MGIC Investment Co. has a fifty-two week low of $13.91 and a fifty-two week high of $22.43. The company’s 50-day moving average is $20.31 and its 200 day moving average is $18.93.

MGIC Investment (NYSE:MTG) last posted its earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $284.72 million for the quarter, compared to analyst estimates of $302.96 million. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. As a group, research analysts predict that MGIC Investment Co. will post 2.43 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, February 14th. MGIC Investment’s dividend payout ratio is 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.