Captrust Financial Advisors Takes $230,000 Position in MGIC Investment Co. (NYSE:MTG)

Captrust Financial Advisors purchased a new stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 9,716 shares of the insurance provider's stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC grew its stake in shares of MGIC Investment by 33.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 40,398 shares of the insurance provider's stock worth $958,000 after acquiring an additional 10,130 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in MGIC Investment by 311.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 66,493 shares of the insurance provider's stock worth $1,575,000 after buying an additional 50,316 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of MGIC Investment in the 4th quarter valued at approximately $1,166,000. Allianz Asset Management GmbH boosted its stake in MGIC Investment by 8.2% during the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock worth $130,289,000 after buying an additional 415,586 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of MGIC Investment by 14.8% in the fourth quarter. Wells Fargo & Company MN now owns 90,987 shares of the insurance provider's stock valued at $2,157,000 after buying an additional 11,721 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company's stock.

MGIC Investment Trading Up 2.5%

MTG traded up $0.64 during trading on Tuesday, reaching $26.63. 1,389,640 shares of the company's stock were exchanged, compared to its average volume of 1,799,232. The stock has a market capitalization of $6.32 billion, a PE ratio of 9.18 and a beta of 0.91. MGIC Investment Co. has a one year low of $20.11 and a one year high of $26.92. The firm has a fifty day moving average price of $24.91 and a two-hundred day moving average price of $24.60. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. The business had revenue of $306.23 million for the quarter, compared to analyst estimates of $306.66 million. During the same quarter in the prior year, the company earned $0.65 earnings per share. The company's quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Thursday, May 8th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, May 8th. MGIC Investment's dividend payout ratio is currently 17.28%.

MGIC Investment announced that its board has authorized a stock buyback plan on Thursday, April 24th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 12.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently commented on MTG shares. UBS Group lifted their target price on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Barclays raised their target price on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Compass Point reissued a "neutral" rating and set a $28.00 price objective (up from $27.00) on shares of MGIC Investment in a report on Friday. Finally, Keefe, Bruyette & Woods decreased their target price on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $26.63.

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.