Caprock Group LLC Invests $286,000 in MGIC Investment Co. (NYSE:MTG)

Caprock Group LLC acquired a new stake in MGIC Investment Co. (NYSE:MTG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,049 shares of the insurance provider’s stock, valued at approximately $286,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MTG. Hara Capital LLC acquired a new position in MGIC Investment during the 3rd quarter worth $25,000. V Square Quantitative Management LLC acquired a new position in shares of MGIC Investment during the third quarter worth about $33,000. UMB Bank n.a. increased its stake in shares of MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after buying an additional 938 shares during the period. Brooklyn Investment Group purchased a new stake in shares of MGIC Investment during the third quarter worth approximately $69,000. Finally, Covestor Ltd grew its holdings in MGIC Investment by 65.5% during the 3rd quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 1,341 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Performance

NYSE MTG opened at $25.44 on Friday. The business’s 50-day moving average price is $24.51 and its 200 day moving average price is $24.75. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a twelve month low of $18.68 and a twelve month high of $26.56. The company has a market capitalization of $6.44 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 2.02 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last released its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. On average, research analysts predict that MGIC Investment Co. will post 2.85 earnings per share for the current year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.04%. MGIC Investment’s payout ratio is 18.31%.

Wall Street Analysts Forecast Growth

MTG has been the topic of a number of analyst reports. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and cut their price target for the company from $26.00 to $25.00 in a research note on Monday, December 9th. Barclays boosted their price target on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. Compass Point reiterated a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research report on Wednesday. Finally, Royal Bank of Canada cut their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.25.

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.