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

Nomura Holdings Inc. acquired a new stake in MGIC Investment Co. (NYSE:MTG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 33,619 shares of the insurance provider's stock, valued at approximately $797,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MTG. Barclays PLC boosted its position in MGIC Investment by 75.1% during the third 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. Assenagon Asset Management S.A. bought a new position in MGIC Investment in the 4th quarter worth approximately $8,362,000. UMB Bank n.a. grew its holdings in MGIC Investment by 131.9% during the fourth 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 during the period. Crossmark Global Holdings Inc. raised its holdings in shares of MGIC Investment by 13.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 61,173 shares of the insurance provider's stock valued at $1,450,000 after acquiring an additional 7,290 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings 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 buying an additional 10,130 shares in the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Trading Down 0.4%

MTG traded down $0.12 during midday trading on Friday, hitting $26.02. 1,365,109 shares of the company were exchanged, compared to its average volume of 1,800,877. The company has a quick ratio of 1.25, a current ratio of 0.48 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 $26.92. The firm's 50 day moving average price is $24.80 and its 200-day moving average price is $24.57. The firm has a market capitalization of $6.18 billion, a P/E ratio of 8.97 and a beta of 0.91.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The insurance provider reported $0.75 EPS for the quarter, beating 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 company had revenue of $306.23 million during the quarter, compared to the consensus estimate of $306.66 million. During the same period last year, the business posted $0.65 EPS. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Thursday, May 8th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.52 annualized dividend and a yield of 2.00%. MGIC Investment's dividend payout ratio (DPR) is 17.28%.

MGIC Investment declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 24th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the insurance provider to buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

MTG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their price target 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. 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 note on Wednesday, February 19th. Compass Point boosted their price target on MGIC Investment from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Barclays raised their price objective on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $26.63.

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.