MGIC Investment Co. (NYSE:MTG) Shares Purchased by Barclays PLC

Barclays PLC boosted its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 123.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,023,175 shares of the insurance provider's stock after purchasing an additional 565,469 shares during the period. Barclays PLC owned about 0.40% of MGIC Investment worth $24,260,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. World Investment Advisors LLC purchased a new position in shares of MGIC Investment during the 3rd quarter valued at approximately $619,000. Franklin Resources Inc. boosted its stake in MGIC Investment by 6.5% during the 3rd 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. DGS Capital Management LLC grew its holdings in MGIC Investment by 6.2% during the 3rd quarter. DGS Capital Management LLC now owns 85,797 shares of the insurance provider's stock worth $2,196,000 after acquiring an additional 4,974 shares in the last quarter. Nordea Investment Management AB increased 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 worth $10,114,000 after purchasing an additional 18,399 shares during the last quarter. Finally, CWA Asset Management Group LLC raised its stake 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 in the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MTG. Keefe, Bruyette & Woods decreased their price target on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Compass Point reiterated a "neutral" rating and issued a $27.00 price target (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. UBS Group upped their price target on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. 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 report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, MGIC Investment currently has an average rating of "Hold" and a consensus target price of $26.50.

MGIC Investment Stock Performance

Shares of NYSE:MTG traded down $0.32 during trading hours on Friday, hitting $24.40. The stock had a trading volume of 378,038 shares, compared to its average volume of 2,270,615. The stock's fifty day simple moving average is $23.87 and its 200 day simple moving average is $24.47. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 8.41 and a beta of 0.93. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. MGIC Investment Co. has a 1-year low of $20.01 and a 1-year high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. Sell-side analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed 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 dividend yield of 2.13%. MGIC Investment's dividend payout ratio is currently 17.93%.

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

Insider Buying and Selling

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