Asset Management One Co. Ltd. Buys 50,316 Shares of MGIC Investment Co. (NYSE:MTG)

Asset Management One Co. Ltd. grew its position in MGIC Investment Co. (NYSE:MTG) by 311.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 66,493 shares of the insurance provider’s stock after acquiring an additional 50,316 shares during the period. Asset Management One Co. Ltd.’s holdings in MGIC Investment were worth $1,575,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of MTG. Franklin Resources Inc. raised its position in MGIC Investment by 6.5% in the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after purchasing an additional 98,369 shares during the last quarter. GSA Capital Partners LLP boosted its position in MGIC Investment by 154.1% during the 3rd quarter. GSA Capital Partners LLP now owns 96,732 shares of the insurance provider’s stock worth $2,476,000 after buying an additional 58,664 shares during the period. Vestcor Inc grew its holdings in MGIC Investment by 559.3% during the 3rd quarter. Vestcor Inc now owns 60,094 shares of the insurance provider’s stock worth $1,538,000 after acquiring an additional 50,979 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of MGIC Investment by 13.4% during the fourth quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider’s stock valued at $2,174,000 after acquiring an additional 10,864 shares during the last quarter. Finally, Hancock Whitney Corp acquired a new position in shares of MGIC Investment during the third quarter worth $777,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Royal Bank of Canada decreased their price objective on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Barclays raised their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods reduced 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. Compass Point restated a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Finally, Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MGIC Investment currently has a consensus rating of “Hold” and an average price target of $26.75.

MGIC Investment Trading Down 0.5 %

Shares of MTG stock opened at $24.44 on Friday. The company has a market cap of $6.19 billion, a P/E ratio of 8.43 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. The stock has a 50 day simple moving average of $24.36 and a two-hundred day simple moving average of $24.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48.

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 63.18% and a return on equity of 14.86%. 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be given 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 2.13%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

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.