MGIC Investment Co. (NYSE:MTG) Position Boosted by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec increased its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 292.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,072,629 shares of the insurance provider's stock after buying an additional 1,543,908 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.82% of MGIC Investment worth $49,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTG. Norges Bank purchased a new position in shares of MGIC Investment in the 4th quarter worth about $85,908,000. First Trust Advisors LP increased its position in MGIC Investment by 22.4% during the 4th quarter. First Trust Advisors LP now owns 16,008,489 shares of the insurance provider's stock worth $379,561,000 after purchasing an additional 2,928,595 shares in the last quarter. Invesco Ltd. lifted its position in MGIC Investment by 16.6% during the fourth quarter. Invesco Ltd. now owns 4,766,195 shares of the insurance provider's stock valued at $113,006,000 after buying an additional 677,227 shares in the last quarter. Barclays PLC boosted its position in MGIC Investment by 123.5% during the 4th quarter. Barclays PLC now owns 1,023,175 shares of the insurance provider's stock worth $24,260,000 after purchasing an additional 565,469 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in MGIC Investment by 8.2% in the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock valued at $130,289,000 after purchasing an additional 415,586 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

MGIC Investment Stock Down 0.2 %

MTG stock traded down $0.06 during mid-day trading on Monday, hitting $26.04. 1,306,378 shares of the company were exchanged, compared to its average volume of 1,799,974. The firm has a fifty day simple moving average of $23.95 and a 200 day simple moving average of $24.42. The company has a market capitalization of $6.32 billion, a PE ratio of 8.98 and a beta of 0.93. MGIC Investment Co. has a twelve month low of $20.11 and a twelve month high of $26.56. 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 (NYSE:MTG - Get Free Report) last announced its quarterly earnings data 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. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. The firm had revenue of $306.23 million during the quarter, compared to analyst estimates of $306.66 million. During the same period in the previous year, the company earned $0.65 earnings per share. MGIC Investment's quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Thursday, May 8th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, May 8th. MGIC Investment's payout ratio is 17.28%.

MGIC Investment announced that its Board of Directors has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MTG. Compass Point restated a "neutral" rating and set 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 upped their price target on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Barclays boosted their target price on shares of 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, Keefe, Bruyette & Woods lowered their price target on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. 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 stock. According to data from MarketBeat.com, MGIC Investment presently has a consensus rating of "Hold" and an average price target of $26.50.

Insider Buying and Selling

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.