Empowered Funds LLC Takes $1.17 Million Position in MGIC Investment Co. (NYSE:MTG)

Empowered Funds LLC purchased a new stake in MGIC Investment Co. (NYSE:MTG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 49,178 shares of the insurance provider’s stock, valued at approximately $1,166,000.

Several other institutional investors have also recently bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of MGIC Investment in the 3rd quarter valued at $13,535,000. Vest Financial LLC boosted its holdings in MGIC Investment by 33.4% in the fourth quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider’s stock valued at $35,213,000 after acquiring an additional 371,882 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in MGIC Investment in the fourth quarter worth about $8,362,000. Barclays PLC raised its holdings in MGIC Investment by 75.1% during the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider’s stock worth $11,716,000 after purchasing an additional 196,252 shares during the last quarter. Finally, Taika Capital LP acquired a new position in MGIC Investment during the 3rd quarter valued at about $4,123,000. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Performance

MTG stock opened at $24.70 on Monday. MGIC Investment Co. has a 1-year low of $18.98 and a 1-year high of $26.56. The business’s 50-day moving average price is $24.36 and its two-hundred day moving average price is $24.78. The firm has a market cap of $6.26 billion, a PE ratio of 8.52, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. As a group, research analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Analyst Upgrades and Downgrades

MTG has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of 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 reaffirmed a “neutral” rating and set a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Barclays increased their price target on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Finally, Royal Bank of Canada cut their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.