DekaBank Deutsche Girozentrale Acquires 193,842 Shares of MGIC Investment Co. (NYSE:MTG)

DekaBank Deutsche Girozentrale increased its holdings in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 190.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 295,579 shares of the insurance provider's stock after purchasing an additional 193,842 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.11% of MGIC Investment worth $5,747,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Asset Management One Co. Ltd. increased its stake in MGIC Investment by 2.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 39,747 shares of the insurance provider's stock worth $774,000 after purchasing an additional 812 shares in the last quarter. Oak Thistle LLC grew its stake in shares of MGIC Investment by 75.7% during the 4th quarter. Oak Thistle LLC now owns 25,020 shares of the insurance provider's stock worth $483,000 after acquiring an additional 10,780 shares in the last quarter. Blue Trust Inc. grew its stake in shares of MGIC Investment by 49.2% during the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider's stock worth $50,000 after acquiring an additional 849 shares in the last quarter. Ritholtz Wealth Management grew its stake in shares of MGIC Investment by 13.5% during the 4th quarter. Ritholtz Wealth Management now owns 64,428 shares of the insurance provider's stock worth $1,243,000 after acquiring an additional 7,688 shares in the last quarter. Finally, Planned Solutions Inc. bought a new position in shares of MGIC Investment during the 4th quarter worth approximately $66,000. 95.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of MGIC Investment from $18.00 to $21.00 and gave the stock a "sector perform" rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $24.00 price target (up from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Finally, Roth Mkm raised their price target on shares of MGIC Investment from $21.00 to $24.00 and gave the stock a "buy" rating in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, MGIC Investment has a consensus rating of "Hold" and an average price target of $21.08.

MGIC Investment Stock Up 0.4 %

Shares of NYSE:MTG traded up $0.08 during midday trading on Thursday, hitting $19.90. The stock had a trading volume of 1,632,066 shares, compared to its average volume of 2,074,945. MGIC Investment Co. has a 12 month low of $13.83 and a 12 month high of $22.43. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The business's 50-day simple moving average is $20.32 and its 200-day simple moving average is $18.90. The company has a market cap of $5.37 billion, a P/E ratio of 7.99, a PEG ratio of 1.71 and a beta of 1.24.

MGIC Investment (NYSE:MTG - Get Free Report) last released its earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. The business had revenue of $284.72 million during the quarter, compared to analysts' expectations of $302.96 million. On average, sell-side analysts forecast that MGIC Investment Co. will post 2.43 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, February 14th. MGIC Investment's dividend payout ratio is 18.47%.

About MGIC Investment

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.