Vanguard Personalized Indexing Management LLC Purchases 2,678 Shares of MGIC Investment Co. (NYSE:MTG)

Vanguard Personalized Indexing Management LLC grew its holdings in MGIC Investment Co. (NYSE:MTG) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,007 shares of the insurance provider’s stock after buying an additional 2,678 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in MGIC Investment were worth $1,164,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTG. Vident Advisory LLC lifted its holdings in MGIC Investment by 21.1% during the 1st quarter. Vident Advisory LLC now owns 212,660 shares of the insurance provider’s stock valued at $4,755,000 after purchasing an additional 37,030 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in MGIC Investment by 33.6% in the 4th quarter. Allianz Asset Management GmbH now owns 3,008,255 shares of the insurance provider’s stock valued at $58,029,000 after acquiring an additional 757,021 shares during the period. Caxton Associates LP acquired a new stake in MGIC Investment during the fourth quarter worth approximately $1,804,000. LSV Asset Management boosted its holdings in shares of MGIC Investment by 1.6% during the first quarter. LSV Asset Management now owns 10,983,325 shares of the insurance provider’s stock worth $245,587,000 after acquiring an additional 174,609 shares during the period. Finally, Sei Investments Co. lifted its holdings in MGIC Investment by 31.7% during the 1st quarter. Sei Investments Co. now owns 496,778 shares of the insurance provider’s stock worth $11,108,000 after purchasing an additional 119,476 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.

MGIC Investment Price Performance

MTG stock opened at $25.38 on Monday. The company’s 50-day moving average price is $24.38 and its two-hundred day moving average price is $22.16. The firm has a market cap of $6.77 billion, a P/E ratio of 9.76, a P/E/G ratio of 1.30 and a beta of 1.28. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13. MGIC Investment Co. has a 12 month low of $16.30 and a 12 month high of $25.93.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.15. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The business had revenue of $305.28 million for the quarter, compared to analysts’ expectations of $301.02 million. During the same period last year, the firm posted $0.68 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts anticipate that MGIC Investment Co. will post 2.76 earnings per share for the current fiscal year.

MGIC Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. This is a boost from MGIC Investment’s previous quarterly dividend of $0.12. MGIC Investment’s payout ratio is 20.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MTG shares. Barclays upped their price objective on MGIC Investment from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods upgraded shares of MGIC Investment from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $24.00 to $25.00 in a research note on Monday, June 3rd. Roth Mkm increased their target price on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, BTIG Research lifted their price target on shares of MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, MGIC Investment has an average rating of “Hold” and an average target price of $24.33.

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.