MGIC Investment Co. (NYSE:MTG) Position Increased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,206,491 shares of the insurance provider's stock after acquiring an additional 45,448 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.48% of MGIC Investment worth $28,606,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC boosted 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 valued at $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 during the period. Empowered Funds LLC purchased a new position in MGIC Investment during the fourth quarter worth about $1,166,000. Allianz Asset Management GmbH lifted its position 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 lifted its position in MGIC Investment by 14.8% during the fourth quarter. Wells Fargo & Company MN now owns 90,987 shares of the insurance provider's stock worth $2,157,000 after buying an additional 11,721 shares during the period. Institutional investors and hedge funds own 95.58% of the company's stock.

Wall Street Analysts Forecast Growth

MTG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reduced their target price on 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. Barclays increased their target price 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. Compass Point reiterated a "neutral" rating and set a $28.00 target price (up from $27.00) on shares of MGIC Investment in a research report on Friday, May 23rd. Finally, UBS Group increased 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, MGIC Investment has an average rating of "Hold" and a consensus price target of $26.63.

MGIC Investment Trading Up 0.3%

Shares of MGIC Investment stock traded up $0.08 during trading hours on Thursday, reaching $26.51. The stock had a trading volume of 1,259,441 shares, compared to its average volume of 1,798,579. The firm has a 50 day simple moving average of $24.97 and a two-hundred day simple moving average of $24.61. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 9.14 and a beta of 0.91. 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 Co. has a 1 year low of $20.11 and a 1 year high of $26.98.

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

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors 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 1.96%. MGIC Investment's payout ratio is currently 17.28%.

MGIC Investment declared that its Board of Directors has approved a stock repurchase program on Thursday, April 24th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the insurance provider to buy up to 12.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

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.