Natixis Purchases Shares of 72,566 MGIC Investment Co. (NYSE:MTG)

Natixis acquired a new stake in MGIC Investment Co. (NYSE:MTG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 72,566 shares of the insurance provider's stock, valued at approximately $1,721,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. UMB Bank n.a. raised its position in shares of MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock valued at $39,000 after buying an additional 938 shares in the last quarter. Venturi Wealth Management LLC raised its position in MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 918 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of MGIC Investment by 61.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock valued at $49,000 after purchasing an additional 794 shares in the last quarter. Physician Wealth Advisors Inc. acquired a new stake in shares of MGIC Investment in the 4th quarter valued at $54,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of MGIC Investment by 21.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock valued at $55,000 after purchasing an additional 419 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

MGIC Investment Trading Up 1.0 %

Shares of MTG stock traded up $0.25 on Monday, hitting $24.47. The company had a trading volume of 267,807 shares, compared to its average volume of 1,798,860. The stock's 50-day moving average is $23.86 and its two-hundred day moving average is $24.45. 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 firm has a market cap of $5.93 billion, a P/E ratio of 8.44 and a beta of 0.93. MGIC Investment Co. has a twelve month low of $20.02 and a twelve month high of $26.56.

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

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Thursday, May 8th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, May 8th. MGIC Investment's dividend payout ratio (DPR) is presently 17.93%.

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.

Wall Street Analysts Forecast Growth

MTG has been the topic of a number of recent analyst reports. Compass Point reiterated a "neutral" rating and issued a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. UBS Group increased their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their target price on shares of 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, Barclays increased their price target 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 investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $26.50.

Insider Activity

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the business'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 value of $112,930.00. Following the transaction, the chief accounting officer now directly owns 75,070 shares of the company's stock, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.05% of the stock is owned by company insiders.

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.