LSV Asset Management Buys 381,151 Shares of MGIC Investment Co. (NYSE:MTG)

LSV Asset Management raised its stake in MGIC Investment Co. (NYSE:MTG) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,808,716 shares of the insurance provider’s stock after buying an additional 381,151 shares during the period. LSV Asset Management owned about 3.90% of MGIC Investment worth $208,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MTG. Avantax Planning Partners Inc. raised its position in MGIC Investment by 6.8% during the third quarter. Avantax Planning Partners Inc. now owns 11,543 shares of the insurance provider’s stock valued at $193,000 after purchasing an additional 734 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of MGIC Investment by 2.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 39,747 shares of the insurance provider’s stock valued at $774,000 after buying an additional 812 shares in the last quarter. Blue Trust Inc. lifted its position in MGIC Investment by 49.2% in the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock worth $50,000 after buying an additional 849 shares during the last quarter. Signaturefd LLC boosted its stake in MGIC Investment by 4.0% in the fourth quarter. Signaturefd LLC now owns 22,162 shares of the insurance provider’s stock worth $428,000 after buying an additional 862 shares in the last quarter. Finally, Janiczek Wealth Management LLC grew its position in MGIC Investment by 29.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 5,572 shares of the insurance provider’s stock valued at $107,000 after acquiring an additional 1,269 shares during the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Trading Up 0.6 %

Shares of MGIC Investment stock traded up $0.13 during trading on Friday, reaching $20.64. 2,072,463 shares of the stock were exchanged, compared to its average volume of 1,894,780. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 0.13. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 7.94, a price-to-earnings-growth ratio of 1.70 and a beta of 1.24. MGIC Investment Co. has a 1 year low of $13.97 and a 1 year high of $22.43. The stock’s fifty day moving average is $20.58 and its 200 day moving average is $19.25.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. The company had revenue of $294.40 million during the quarter, compared to the consensus estimate of $301.62 million. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. MGIC Investment’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. As a group, equities research analysts expect that MGIC Investment Co. will post 2.48 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Thursday, May 9th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Wednesday, May 8th. MGIC Investment’s dividend payout ratio (DPR) is presently 17.69%.

Analysts Set New Price Targets

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