MGIC Investment Co. (NYSE:MTG) Shares Purchased by James Investment Research Inc.

James Investment Research Inc. increased its stake in MGIC Investment Co. (NYSE:MTG) by 7.1% in the third quarter, Holdings Channel reports. The firm owned 78,825 shares of the insurance provider’s stock after purchasing an additional 5,200 shares during the period. James Investment Research Inc.’s holdings in MGIC Investment were worth $2,018,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Versant Capital Management Inc raised its holdings in shares of MGIC Investment by 482.7% in the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock worth $25,000 after buying an additional 946 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of MGIC Investment in the 3rd quarter valued at $33,000. Fidelis Capital Partners LLC purchased a new position in MGIC Investment in the 1st quarter worth $50,000. GAMMA Investing LLC raised its stake in MGIC Investment by 76.2% in the 2nd 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 last quarter. Finally, Daiwa Securities Group Inc. lifted its position in MGIC Investment by 600.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the insurance provider’s stock worth $94,000 after acquiring an additional 3,600 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Down 5.9 %

Shares of MTG stock opened at $23.57 on Friday. MGIC Investment Co. has a twelve month low of $16.95 and a twelve month high of $26.52. The stock has a market cap of $6.11 billion, a P/E ratio of 8.70, a P/E/G ratio of 1.35 and a beta of 1.28. The stock has a 50 day moving average of $25.31 and a 200 day moving average of $23.06. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last posted its 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 firm had revenue of $305.28 million during the quarter, compared to analysts’ expectations of $301.02 million. During the same period in the previous year, the business posted $0.68 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts expect that MGIC Investment Co. will post 2.76 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.21%. MGIC Investment’s dividend payout ratio (DPR) is currently 19.19%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Roth Mkm raised their price objective on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. BTIG Research increased their price target on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Barclays lifted their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

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.