Louisiana State Employees Retirement System Acquires Shares of 77,900 MGIC Investment Co. (NYSE:MTG)

Louisiana State Employees Retirement System acquired a new position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 77,900 shares of the insurance provider's stock, valued at approximately $1,503,000.

Several other institutional investors have also recently bought and sold shares of MTG. Lazard Asset Management LLC acquired a new position in MGIC Investment during the first quarter worth $26,000. Blue Trust Inc. raised its holdings in MGIC Investment by 49.2% during the fourth 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 last quarter. Industrial Alliance Investment Management Inc. raised its holdings in MGIC Investment by 374.0% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 3,925 shares of the insurance provider's stock worth $51,000 after buying an additional 3,097 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of MGIC Investment in the 4th quarter worth $66,000. Finally, USA Financial Formulas bought a new stake in shares of MGIC Investment in the 3rd quarter worth $100,000. Institutional investors and hedge funds own 95.58% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on MTG shares. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $24.00 target price (up previously from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Royal Bank of Canada upped their target price 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. Finally, Roth Mkm upped their target price 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 equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, MGIC Investment currently has a consensus rating of "Hold" and an average price target of $21.08.

MGIC Investment Stock Performance

MTG traded up $0.25 during trading on Friday, hitting $19.83. 1,660,911 shares of the company traded hands, compared to its average volume of 1,802,524. The firm has a market cap of $5.35 billion, a P/E ratio of 7.96, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24. The stock's fifty day moving average is $20.36 and its 200 day moving average is $19.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. MGIC Investment Co. has a one year low of $13.97 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 the consensus estimate of $0.57 by $0.10. The company had revenue of $284.72 million during the quarter, compared to analyst estimates of $302.96 million. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. As a group, equities analysts predict that MGIC Investment Co. will post 2.43 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently disclosed 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 2.32%. The ex-dividend date of this dividend was Wednesday, February 14th. MGIC Investment's dividend payout ratio (DPR) is presently 18.47%.

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.