Deutsche Bank AG Acquires 50,272 Shares of MGIC Investment Co. (NYSE:MTG)

Deutsche Bank AG grew its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 138.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,530 shares of the insurance provider's stock after buying an additional 50,272 shares during the period. Deutsche Bank AG's holdings in MGIC Investment were worth $2,052,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of MGIC Investment by 75.1% during the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider's stock worth $11,716,000 after acquiring an additional 196,252 shares during the last quarter. UMB Bank n.a. increased its position in shares of MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 938 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of MGIC Investment by 13.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 61,173 shares of the insurance provider's stock valued at $1,450,000 after buying an additional 7,290 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in MGIC Investment by 33.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 40,398 shares of the insurance provider's stock worth $958,000 after buying an additional 10,130 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in MGIC Investment by 4.8% in the fourth quarter. Inspire Investing LLC now owns 16,883 shares of the insurance provider's stock worth $400,000 after buying an additional 766 shares in the last quarter. Institutional investors own 95.58% of the company's stock.

MGIC Investment Stock Up 0.0%

Shares of MTG traded up $0.01 on Wednesday, hitting $26.63. 153,703 shares of the stock traded hands, compared to its average volume of 2,128,550. The company 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 company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The business has a 50 day simple moving average of $24.91 and a 200 day simple moving average of $24.60.

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

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

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Thursday, May 8th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.95%. MGIC Investment's payout ratio is 17.28%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods decreased their target price on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Compass Point restated a "neutral" rating and set a $28.00 target price (up from $27.00) on shares of MGIC Investment in a report on Friday, May 23rd. Barclays raised their price target on MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Finally, UBS Group increased their price objective on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $26.63.

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.