Mackenzie Financial Corp Buys 44,259 Shares of MGIC Investment Co. (NYSE:MTG)

Mackenzie Financial Corp increased its stake in MGIC Investment Co. (NYSE:MTG) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 908,046 shares of the insurance provider’s stock after purchasing an additional 44,259 shares during the period. Mackenzie Financial Corp’s holdings in MGIC Investment were worth $17,516,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Beacon Pointe Advisors LLC increased its stake in shares of MGIC Investment by 5.4% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 12,303 shares of the insurance provider’s stock valued at $194,000 after buying an additional 633 shares during the period. Avantax Planning Partners Inc. boosted its holdings in MGIC Investment by 6.8% in the third quarter. Avantax Planning Partners Inc. now owns 11,543 shares of the insurance provider’s stock valued at $193,000 after acquiring an additional 734 shares during the last quarter. Asset Management One Co. Ltd. increased its position in MGIC Investment by 2.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 39,747 shares of the insurance provider’s stock worth $774,000 after purchasing an additional 812 shares during the period. Blue Trust Inc. raised its holdings in MGIC Investment by 49.2% during the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 849 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in MGIC Investment by 5.3% during the 1st quarter. Stifel Financial Corp now owns 18,064 shares of the insurance provider’s stock valued at $242,000 after purchasing an additional 902 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Stock Performance

Shares of NYSE:MTG opened at $19.58 on Friday. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 1.60 and a beta of 1.24. The firm’s 50 day simple moving average is $20.34 and its 200 day simple moving average is $18.99. 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 $13.97 and a fifty-two week high of $22.43.

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, topping the consensus estimate of $0.57 by $0.10. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. The company had revenue of $284.72 million for the quarter, compared to analyst estimates of $302.96 million. As a group, sell-side analysts forecast that MGIC Investment Co. will post 2.43 earnings per share for the current year.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Thursday, February 15th were issued a $0.115 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.46 annualized dividend and a dividend yield of 2.35%. MGIC Investment’s dividend payout ratio (DPR) is currently 18.47%.

Analyst Upgrades and Downgrades

MTG has been the subject of several analyst reports. Roth Mkm lifted their price target on shares of MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $24.00 price objective (up from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Finally, Royal Bank of Canada upped 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 report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, MGIC Investment has an average rating of “Hold” and a consensus price target of $21.08.

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.