US Bancorp DE Has $243,000 Holdings in MGIC Investment Co. (NYSE:MTG)

US Bancorp DE increased its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,249 shares of the insurance provider’s stock after buying an additional 600 shares during the quarter. US Bancorp DE’s holdings in MGIC Investment were worth $243,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its holdings in shares of MGIC Investment by 190.8% in the third quarter. Janney Montgomery Scott LLC now owns 30,268 shares of the insurance provider’s stock valued at $775,000 after purchasing an additional 19,861 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of MGIC Investment in the third quarter valued at about $332,000. Oppenheimer & Co. Inc. bought a new stake in shares of MGIC Investment in the third quarter valued at about $635,000. KBC Group NV lifted its holdings in shares of MGIC Investment by 16.4% in the third quarter. KBC Group NV now owns 7,386 shares of the insurance provider’s stock valued at $189,000 after purchasing an additional 1,043 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in MGIC Investment during the third quarter worth about $202,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MTG. Compass Point reiterated 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. Keefe, Bruyette & Woods dropped 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. UBS Group upped their target price on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Barclays upped their target price on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.75.

Insider Activity

In other news, CAO Julie K. Sperber sold 4,600 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the transaction, the chief accounting officer now owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.57% of the stock is owned by company insiders.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $23.12 on Friday. The business’s 50 day moving average price is $24.29 and its two-hundred day moving average price is $24.76. The company has a market cap of $5.61 billion, a PE ratio of 7.97 and a beta of 1.28. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a twelve month low of $19.26 and a twelve month high of $26.56.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share 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 predict that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s payout ratio is 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.