MGIC Investment Co. (NYSE:MTG) Shares Bought by Savant Capital LLC

Savant Capital LLC grew its stake in shares of MGIC Investment Co. (NYSE:MTG) by 11.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,857 shares of the insurance provider’s stock after acquiring an additional 933 shares during the period. Savant Capital LLC’s holdings in MGIC Investment were worth $210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Empowered Funds LLC purchased a new stake in shares of MGIC Investment in the fourth quarter valued at $1,166,000. Vest Financial LLC lifted its holdings in shares of 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 purchasing an additional 371,882 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of MGIC Investment by 19.1% in the fourth quarter. State of Alaska Department of Revenue now owns 179,525 shares of the insurance provider’s stock valued at $4,255,000 after purchasing an additional 28,775 shares in the last quarter. Meritage Portfolio Management lifted its holdings in shares of MGIC Investment by 12.5% in the fourth quarter. Meritage Portfolio Management now owns 26,591 shares of the insurance provider’s stock valued at $630,000 after purchasing an additional 2,956 shares in the last quarter. Finally, Financial Strategies Group Inc. lifted its holdings in shares of MGIC Investment by 23.0% in the fourth quarter. Financial Strategies Group Inc. now owns 14,073 shares of the insurance provider’s stock valued at $322,000 after purchasing an additional 2,633 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Price Performance

NYSE MTG opened at $24.58 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The stock’s 50-day moving average is $24.36 and its two-hundred day moving average is $24.78. The firm has a market cap of $6.23 billion, a P/E ratio of 8.48 and a beta of 1.29. MGIC Investment Co. has a fifty-two week low of $18.98 and a fifty-two week high of $26.56.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. On average, analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be paid a $0.13 dividend. 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 2.12%. MGIC Investment’s payout ratio is presently 17.93%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MTG shares. Compass Point reiterated a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. UBS Group increased their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods cut their target price on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. 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 report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.75.

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.