MGIC Investment Co. (NYSE:MTG) Shares Sold by Interval Partners LP

Interval Partners LP lessened its position in MGIC Investment Co. (NYSE:MTG) by 2.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 320,983 shares of the insurance provider’s stock after selling 9,393 shares during the period. Interval Partners LP owned approximately 0.12% of MGIC Investment worth $6,917,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vident Advisory LLC lifted its stake in shares of MGIC Investment by 21.1% in the 1st quarter. Vident Advisory LLC now owns 212,660 shares of the insurance provider’s stock worth $4,755,000 after acquiring an additional 37,030 shares during the period. Allianz Asset Management GmbH increased its holdings in MGIC Investment by 33.6% during 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 in the last quarter. Caxton Associates LP purchased a new position in MGIC Investment during the 4th quarter valued at about $1,804,000. LSV Asset Management grew 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 buying an additional 174,609 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of MGIC Investment by 31.7% during the first quarter. Sei Investments Co. now owns 496,778 shares of the insurance provider’s stock worth $11,108,000 after buying an additional 119,476 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MTG. Barclays raised their target price on shares of MGIC Investment from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods raised shares of MGIC Investment from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $24.00 to $25.00 in a research report on Monday, June 3rd. Roth Mkm lifted their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, BTIG Research boosted their target price on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Four equities research 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 currently has an average rating of “Hold” and an average price target of $24.33.

MGIC Investment Stock Up 1.4 %

MTG stock opened at $25.74 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.11 and a quick ratio of 1.11. MGIC Investment Co. has a 1-year low of $16.30 and a 1-year high of $25.93. The firm has a fifty day moving average price of $24.44 and a two-hundred day moving average price of $22.20. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.30 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.15. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The company had revenue of $305.28 million during the quarter, compared to the consensus estimate of $301.02 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts predict that MGIC Investment Co. will post 2.76 EPS for the current year.

MGIC Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.52 annualized dividend and a yield of 2.02%. This is an increase from MGIC Investment’s previous quarterly dividend of $0.12. MGIC Investment’s dividend payout ratio is presently 20.00%.

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.