Janney Montgomery Scott LLC Buys 19,861 Shares of MGIC Investment Co. (NYSE:MTG)

Janney Montgomery Scott LLC grew its stake in MGIC Investment Co. (NYSE:MTG) by 190.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,268 shares of the insurance provider’s stock after purchasing an additional 19,861 shares during the quarter. Janney Montgomery Scott LLC’s holdings in MGIC Investment were worth $775,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Versant Capital Management Inc increased its position in MGIC Investment by 482.7% during the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 946 shares during the period. V Square Quantitative Management LLC bought a new position in MGIC Investment during the third quarter worth about $33,000. GAMMA Investing LLC increased its position in MGIC Investment by 76.2% during the second quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider’s stock worth $66,000 after acquiring an additional 1,328 shares during the period. Blue Trust Inc. increased its position in MGIC Investment by 233.4% during the second quarter. Blue Trust Inc. now owns 4,985 shares of the insurance provider’s stock worth $111,000 after acquiring an additional 3,490 shares during the period. Finally, CWM LLC increased its position in MGIC Investment by 116.1% during the third quarter. CWM LLC now owns 5,495 shares of the insurance provider’s stock worth $141,000 after acquiring an additional 2,952 shares during the period. 95.58% of the stock is owned by institutional investors.

MGIC Investment Price Performance

MTG stock opened at $24.91 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a 12 month low of $17.25 and a 12 month high of $26.52. The firm has a market cap of $6.31 billion, a P/E ratio of 8.77, a P/E/G ratio of 1.81 and a beta of 1.28. The company’s 50-day moving average price is $25.18 and its two-hundred day moving average price is $23.39.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The company had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. During the same period last year, the company posted $0.64 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts anticipate that MGIC Investment Co. will post 2.81 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.13 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.09%. MGIC Investment’s payout ratio is currently 18.31%.

Analyst Ratings Changes

A number of research firms recently commented on MTG. Roth Mkm raised their price target 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. BTIG Research raised their price target 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. Barclays raised their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada decreased their target price on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $25.50.

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.