NewEdge Wealth LLC grew its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 8.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,444,931 shares of the insurance provider's stock after buying an additional 117,301 shares during the period. NewEdge Wealth LLC owned approximately 0.52% of MGIC Investment worth $27,873,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in MTG. Beacon Pointe Advisors LLC grew its stake in MGIC Investment by 5.4% in the second quarter. Beacon Pointe Advisors LLC now owns 12,303 shares of the insurance provider's stock valued at $194,000 after acquiring an additional 633 shares during the period. Avantax Planning Partners Inc. grew its position in shares of MGIC Investment by 6.8% in the 3rd quarter. Avantax Planning Partners Inc. now owns 11,543 shares of the insurance provider's stock valued at $193,000 after purchasing an additional 734 shares during the period. 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. Blue Trust Inc. raised its holdings in 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 buying an additional 849 shares during the period. Finally, Stifel Financial Corp lifted its stake in MGIC Investment by 5.3% in the first quarter. Stifel Financial Corp now owns 18,064 shares of the insurance provider's stock valued at $242,000 after buying an additional 902 shares in the last quarter. Institutional investors own 95.58% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of MGIC Investment from $18.00 to $21.00 and gave the company a "sector perform" rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $24.00 price objective (up from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Finally, Roth Mkm increased their price objective on MGIC Investment from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $21.08.
Check Out Our Latest Stock Analysis on MTG
MGIC Investment Stock Down 0.8 %
Shares of NYSE MTG traded down $0.16 during mid-day trading on Friday, hitting $19.74. The company had a trading volume of 1,262,759 shares, compared to its average volume of 2,063,512. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $20.32 and a two-hundred day simple moving average of $18.90. The company has a market capitalization of $5.32 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24. MGIC Investment Co. has a one year low of $13.91 and a one year high of $22.43.
MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.10. The firm had revenue of $284.72 million during the quarter, compared to the consensus estimate of $302.96 million. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. On average, equities analysts expect that MGIC Investment Co. will post 2.43 EPS for the current year.
MGIC Investment Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Thursday, February 15th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.46 dividend on an annualized basis and a yield of 2.33%. MGIC Investment's payout ratio is 18.47%.
MGIC Investment Profile
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Free Report)
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.
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