Mackenzie Financial Corp Increases Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Mackenzie Financial Corp grew its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 908,046 shares of the insurance provider's stock after buying an additional 44,259 shares during the quarter. Mackenzie Financial Corp owned approximately 0.33% of MGIC Investment worth $17,516,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MTG. Vest Financial LLC lifted its stake in MGIC Investment by 29.4% in the 4th quarter. Vest Financial LLC now owns 690,877 shares of the insurance provider's stock worth $13,327,000 after acquiring an additional 157,036 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of MGIC Investment by 335.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 103,129 shares of the insurance provider's stock worth $1,989,000 after purchasing an additional 79,457 shares during the period. NewEdge Wealth LLC grew its position in MGIC Investment by 8.8% during the fourth quarter. NewEdge Wealth LLC now owns 1,444,931 shares of the insurance provider's stock valued at $27,873,000 after purchasing an additional 117,301 shares in the last quarter. Invesco Ltd. increased its stake in MGIC Investment by 47.3% in the 3rd quarter. Invesco Ltd. now owns 3,174,560 shares of the insurance provider's stock valued at $52,983,000 after buying an additional 1,019,759 shares during the period. Finally, LSV Asset Management lifted its position in MGIC Investment by 8.5% in the 3rd quarter. LSV Asset Management now owns 10,427,565 shares of the insurance provider's stock worth $174,036,000 after buying an additional 820,182 shares in the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Stock Performance

Shares of MTG stock traded up $0.25 during trading on Friday, reaching $19.83. The company had a trading volume of 1,660,275 shares, compared to its average volume of 2,055,007. MGIC Investment Co. has a one year low of $13.97 and a one year high of $22.43. The company has a market capitalization of $5.35 billion, a PE ratio of 7.86, a PEG ratio of 1.60 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The firm's 50 day simple moving average is $20.34 and its two-hundred day simple moving average is $18.99.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.10. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. The business had revenue of $284.72 million for the quarter, compared to analyst estimates of $302.96 million. Sell-side analysts forecast that MGIC Investment Co. will post 2.43 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Thursday, February 15th were given a $0.115 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.46 annualized dividend and a yield of 2.32%. MGIC Investment's dividend payout ratio is 18.47%.

Wall Street Analysts Forecast Growth

MTG has been the topic of several research analyst reports. Keefe, Bruyette & Woods restated a "market perform" rating and set a $24.00 price target (up from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Royal Bank of Canada raised their price target on MGIC Investment from $18.00 to $21.00 and gave the stock a "sector perform" rating in a research note on Friday, February 2nd. Finally, Roth Mkm boosted their price target on MGIC Investment from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, MGIC Investment currently has an average rating of "Hold" and an average price target of $21.08.

MGIC Investment Company 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.