Lido Advisors LLC Takes $555,000 Position in MGIC Investment Co. (NYSE:MTG)

Lido Advisors LLC acquired a new stake in MGIC Investment Co. (NYSE:MTG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 23,389 shares of the insurance provider's stock, valued at approximately $555,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MTG. Barclays PLC raised its stake 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 purchasing an additional 196,252 shares in the last quarter. World Investment Advisors LLC acquired a new stake in MGIC Investment in the third quarter valued at $619,000. Franklin Resources Inc. lifted its stake in MGIC Investment by 6.5% in the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock valued at $41,836,000 after acquiring an additional 98,369 shares during the last quarter. Nordea Investment Management AB grew its position in shares of MGIC Investment by 4.5% in the 4th quarter. Nordea Investment Management AB now owns 424,767 shares of the insurance provider's stock valued at $10,114,000 after acquiring an additional 18,399 shares during the period. Finally, CWA Asset Management Group LLC raised its holdings in shares of MGIC Investment by 25.0% in the 4th quarter. CWA Asset Management Group LLC now owns 35,304 shares of the insurance provider's stock valued at $837,000 after purchasing an additional 7,068 shares during the period. Institutional investors and hedge funds own 95.58% of the company's stock.

MGIC Investment Trading Up 0.8 %

Shares of MTG stock traded up $0.20 during mid-day trading on Wednesday, reaching $26.21. 1,492,499 shares of the stock traded hands, compared to its average volume of 1,795,694. The stock's fifty day simple moving average is $24.03 and its two-hundred day simple moving average is $24.44. MGIC Investment Co. has a 1-year low of $20.11 and a 1-year high of $26.56. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The company has a market cap of $6.22 billion, a price-to-earnings ratio of 9.04 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, beating the consensus estimate of $0.66 by $0.09. The company 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%. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The business's quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Investors 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 yield of 1.98%. 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 initiated a stock buyback program on Thursday, April 24th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 12.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

MTG has been the topic of several research analyst reports. Compass Point restated a "neutral" rating and issued a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. UBS Group lifted their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods dropped their price objective 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. Finally, Barclays lifted their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $26.50.

Insiders Place Their Bets

In related news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 75,070 shares of the company's stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.05% of the company's stock.

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.