LSV Asset Management Buys 381,151 Shares of MGIC Investment Co. (NYSE:MTG)

LSV Asset Management increased its holdings in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,808,716 shares of the insurance provider's stock after acquiring an additional 381,151 shares during the quarter. LSV Asset Management owned about 3.90% of MGIC Investment worth $208,500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avantax Planning Partners Inc. increased its stake in MGIC Investment by 6.8% during the third quarter. Avantax Planning Partners Inc. now owns 11,543 shares of the insurance provider's stock worth $193,000 after purchasing an additional 734 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of MGIC Investment by 2.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 39,747 shares of the insurance provider's stock valued at $774,000 after buying an additional 812 shares in the last quarter. Blue Trust Inc. boosted its stake in MGIC Investment by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider's stock valued at $50,000 after acquiring an additional 849 shares in the last quarter. Signaturefd LLC grew its stake in MGIC Investment by 4.0% during the 4th quarter. Signaturefd LLC now owns 22,162 shares of the insurance provider's stock worth $428,000 after buying an additional 862 shares during the last quarter. Finally, Janiczek Wealth Management LLC grew its position in shares of MGIC Investment by 29.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 5,572 shares of the insurance provider's stock worth $107,000 after acquiring an additional 1,269 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Stock Up 0.6 %

MTG stock traded up $0.13 during trading on Friday, reaching $20.64. The stock had a trading volume of 2,072,463 shares, compared to its average volume of 1,894,780. The firm has a fifty day moving average price of $20.58 and a 200 day moving average price of $19.26. The company has a current ratio of 1.05, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $5.50 billion, a P/E ratio of 7.94, a PEG ratio of 1.70 and a beta of 1.24. MGIC Investment Co. has a 1-year low of $13.97 and a 1-year high of $22.43.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.05. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. The firm had revenue of $294.40 million for the quarter, compared to the consensus estimate of $301.62 million. During the same period in the prior year, the firm posted $0.54 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that MGIC Investment Co. will post 2.48 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Thursday, May 9th will be paid a $0.115 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.46 dividend on an annualized basis and a yield of 2.23%. MGIC Investment's payout ratio is currently 17.69%.

Analysts Set New Price Targets

Several equities analysts have issued reports 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 note on Friday, February 2nd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $24.00 price target (up previously from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Finally, Roth Mkm increased their price objective 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $21.08.

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.