MGIC Investment Co. (NYSE:MTG) Holdings Raised by Vest Financial LLC

Vest Financial LLC boosted its stake in MGIC Investment Co. (NYSE:MTG) by 22.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,073,756 shares of the insurance provider’s stock after buying an additional 198,553 shares during the period. Vest Financial LLC owned 0.40% of MGIC Investment worth $23,139,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Natixis Advisors L.P. increased its stake in shares of MGIC Investment by 18.8% during the fourth quarter. Natixis Advisors L.P. now owns 93,120 shares of the insurance provider’s stock valued at $1,796,000 after acquiring an additional 14,743 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of MGIC Investment by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,799,494 shares of the insurance provider’s stock worth $54,002,000 after buying an additional 7,137 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of MGIC Investment by 4.1% in the fourth quarter. QRG Capital Management Inc. now owns 14,703 shares of the insurance provider’s stock valued at $284,000 after buying an additional 584 shares during the period. Forum Financial Management LP boosted its stake in 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 buying an additional 1,374 shares in the last quarter. Finally, 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 worth $1,394,000 after acquiring an additional 1,864 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

MTG has been the subject of a number of research analyst reports. Roth Mkm upped their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays raised their target price on shares of MGIC Investment from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. BTIG Research upped their price target on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods raised MGIC Investment from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $24.00 to $25.00 in a research note on Monday, June 3rd. Finally, UBS Group boosted their target price on MGIC Investment from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, MGIC Investment currently has a consensus rating of “Hold” and an average price target of $24.33.

MGIC Investment Stock Performance

Shares of MTG stock opened at $24.38 on Thursday. The firm has a market cap of $6.50 billion, a P/E ratio of 9.38, a PEG ratio of 1.33 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.11 and a quick ratio of 1.11. MGIC Investment Co. has a fifty-two week low of $16.30 and a fifty-two week high of $25.93. The stock’s 50-day moving average is $23.88 and its two-hundred day moving average is $21.87.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.15. The firm had revenue of $305.28 million for the quarter, compared to analyst estimates of $301.02 million. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 earnings per share. Analysts predict that MGIC Investment Co. will post 2.76 earnings per share for the current fiscal year.

MGIC Investment Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This is a boost from MGIC Investment’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 2.13%. MGIC Investment’s dividend payout ratio is currently 20.00%.

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.