Nomura Holdings Inc. Makes New $797,000 Investment in MGIC Investment Co. (NYSE:MTG)

Nomura Holdings Inc. bought a new position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 33,619 shares of the insurance provider's stock, valued at approximately $797,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTG. UMB Bank n.a. boosted its stake 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 worth $39,000 after acquiring an additional 938 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock worth $43,000 after acquiring an additional 918 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of MGIC Investment by 61.9% during the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock worth $49,000 after acquiring an additional 794 shares in the last quarter. Physician Wealth Advisors Inc. purchased a new stake in shares of MGIC Investment during the 4th quarter worth approximately $54,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of MGIC Investment by 21.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock worth $55,000 after acquiring an additional 419 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

MGIC Investment Price Performance

MTG stock opened at $26.69 on Tuesday. MGIC Investment Co. has a 1 year low of $20.11 and a 1 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 stock's 50 day moving average price is $24.54 and its 200 day moving average price is $24.52. The firm has a market cap of $6.34 billion, a P/E ratio of 9.20 and a beta of 0.91.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. The company 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 posted $0.65 EPS. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, May 8th. MGIC Investment's dividend payout ratio is presently 17.28%.

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

Analysts Set New Price Targets

Several brokerages have recently commented on MTG. Barclays boosted their price target on MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Compass Point reissued a "neutral" rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their price target on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group upped their target price 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 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $26.50.

Insiders Place Their Bets

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the transaction, the chief accounting officer now owns 75,070 shares of the company's stock, valued at $1,842,968.50. This represents a 5.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.05% of the company's stock.

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.

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