Hsbc Holdings PLC Has $209,000 Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Hsbc Holdings PLC reduced its position in shares of MGIC Investment Co. (NYSE:MTG) by 10.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,686 shares of the insurance provider’s stock after selling 1,086 shares during the period. Hsbc Holdings PLC’s holdings in MGIC Investment were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vident Advisory LLC raised its position in MGIC Investment by 21.1% during the 1st quarter. Vident Advisory LLC now owns 212,660 shares of the insurance provider’s stock worth $4,755,000 after purchasing an additional 37,030 shares during the last quarter. Caxton Associates LP acquired a new position in shares of MGIC Investment in the fourth quarter worth approximately $1,804,000. LSV Asset Management boosted its holdings in MGIC Investment by 1.6% in the first quarter. LSV Asset Management now owns 10,983,325 shares of the insurance provider’s stock valued at $245,587,000 after acquiring an additional 174,609 shares during the last quarter. Sei Investments Co. increased its position in MGIC Investment by 31.7% during the 1st quarter. Sei Investments Co. now owns 496,778 shares of the insurance provider’s stock valued at $11,108,000 after purchasing an additional 119,476 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in MGIC Investment by 110.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 61,539 shares of the insurance provider’s stock worth $1,376,000 after purchasing an additional 32,358 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MTG. Barclays lifted 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 note on Friday, August 2nd. BTIG Research boosted their price objective on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Roth Mkm raised their target price on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.33.

MGIC Investment Price Performance

MTG stock opened at $25.70 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50-day moving average is $24.74 and its 200-day moving average is $22.48. The stock has a market capitalization of $6.85 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28. MGIC Investment Co. has a 1 year low of $16.32 and a 1 year high of $25.93.

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, topping the consensus estimate of $0.62 by $0.15. The business had revenue of $305.28 million for the quarter, compared to analyst estimates of $301.02 million. MGIC Investment had a return on equity of 14.97% and a net margin of 63.19%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. Equities research analysts expect that MGIC Investment Co. will post 2.76 EPS for the current fiscal year.

MGIC Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, August 8th. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.12. MGIC Investment’s payout ratio is 20.00%.

About MGIC Investment

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.