MGIC Investment Co. (NYSE:MTG) Shares Purchased by Larson Financial Group LLC
Larson Financial Group LLC increased its position in MGIC Investment Co. (NYSE:MTG – Get Rating) by 4,866.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,298 shares of the insurance provider’s stock after buying an additional 94,359 shares during the quarter. Larson Financial Group LLC’s holdings in MGIC Investment were worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission.
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Other hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in shares of MGIC Investment during the first quarter valued at approximately $26,000. Wipfli Financial Advisors LLC purchased a new position in MGIC Investment during the 3rd quarter worth approximately $62,000. M&T Bank Corp purchased a new position in MGIC Investment during the 2nd quarter worth approximately $76,000. Janiczek Wealth Management LLC grew its holdings in shares of MGIC Investment by 71.5% during the 3rd quarter. Janiczek Wealth Management LLC now owns 8,374 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 3,491 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of MGIC Investment during the 2nd quarter valued at $112,000. 96.95% of the stock is owned by hedge funds and other institutional investors.
MGIC Investment Price Performance
Shares of MGIC Investment stock opened at $13.62 on Friday. The company has a 50-day simple moving average of $13.16 and a two-hundred day simple moving average of $13.53. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 5.10, a price-to-earnings-growth ratio of 1.16 and a beta of 1.36. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.15. MGIC Investment Co. has a twelve month low of $11.38 and a twelve month high of $16.41.
MGIC Investment (NYSE:MTG – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.31. MGIC Investment had a net margin of 72.18% and a return on equity of 19.66%. The company had revenue of $296.06 million for the quarter, compared to analyst estimates of $322.19 million. Analysts forecast that MGIC Investment Co. will post 2.86 EPS for the current year.
MGIC Investment Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Thursday, November 10th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Wednesday, November 9th. MGIC Investment’s dividend payout ratio is currently 14.98%.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on MTG shares. Credit Suisse Group decreased their price objective on shares of MGIC Investment to $15.00 in a report on Thursday, October 13th. Barclays cut shares of MGIC Investment from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $16.00 to $14.00 in a research note on Friday, January 6th. StockNews.com assumed coverage on shares of MGIC Investment in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, Compass Point lowered shares of MGIC Investment from a “buy” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $14.50 in a report on Tuesday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.75.
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, 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.
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