29,181 Shares in MGIC Investment Co. (NYSE:MTG) Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC purchased a new stake in shares of MGIC Investment Co. (NYSE:MTGFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 29,181 shares of the insurance provider’s stock, valued at approximately $563,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC grew its holdings in MGIC Investment by 2.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 72,291 shares of the insurance provider’s stock valued at $1,394,000 after purchasing an additional 1,864 shares during the last quarter. Nicholas Investment Partners LP lifted its holdings in shares of MGIC Investment by 11.7% during the fourth quarter. Nicholas Investment Partners LP now owns 664,312 shares of the insurance provider’s stock valued at $12,815,000 after acquiring an additional 69,701 shares during the period. Forum Financial Management LP lifted its holdings in shares of MGIC Investment by 11.3% during the fourth quarter. Forum Financial Management LP now owns 13,548 shares of the insurance provider’s stock valued at $261,000 after acquiring an additional 1,374 shares during the period. USA Financial Formulas lifted its holdings in shares of MGIC Investment by 221.4% during the fourth quarter. USA Financial Formulas now owns 19,235 shares of the insurance provider’s stock valued at $371,000 after acquiring an additional 13,250 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of MGIC Investment by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,412,645 shares of the insurance provider’s stock valued at $278,023,000 after acquiring an additional 553,155 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 $21.36 on Tuesday. MGIC Investment Co. has a twelve month low of $15.02 and a twelve month high of $22.43. The firm has a market cap of $5.69 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 7.10 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 1.05. The business has a fifty day moving average of $20.73 and a 200-day moving average of $19.81.

MGIC Investment (NYSE:MTGGet Free Report) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. The company had revenue of $294.40 million during the quarter, compared to analyst estimates of $301.62 million. During the same period last year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that MGIC Investment Co. will post 2.51 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Thursday, May 9th were given a $0.115 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.46 dividend on an annualized basis and a yield of 2.15%. MGIC Investment’s payout ratio is 17.69%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MTG shares. UBS Group lifted their price objective on MGIC Investment from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. Keefe, Bruyette & Woods raised MGIC Investment from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $25.00 in a report on Monday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.83.

Read Our Latest Research Report on MTG

MGIC Investment Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

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