Nisa Investment Advisors LLC Has $82,000 Stock Position in MGIC Investment Co. (NYSE:MTG)

Nisa Investment Advisors LLC lowered its position in shares of MGIC Investment Co. (NYSE:MTG) by 83.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,228 shares of the insurance provider’s stock after selling 21,931 shares during the quarter. Nisa Investment Advisors LLC’s holdings in MGIC Investment were worth $82,000 as of its most recent SEC filing.

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

MGIC Investment Stock Performance

MGIC Investment stock opened at $19.83 on Friday. MGIC Investment Co. has a 12-month low of $13.97 and a 12-month high of $22.43. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $20.36 and its two-hundred day moving average price is $19.03. The stock has a market cap of $5.35 billion, a PE ratio of 7.96, a P/E/G ratio of 1.61 and a beta of 1.24.

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

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Thursday, February 15th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Wednesday, February 14th. MGIC Investment’s dividend payout ratio is presently 18.47%.

Analyst Ratings Changes

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

MGIC Investment 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.