Dimensional Fund Advisors LP Buys 553,155 Shares of MGIC Investment Co. (NYSE:MTG)

Dimensional Fund Advisors LP grew its holdings in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 4.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,412,645 shares of the insurance provider's stock after buying an additional 553,155 shares during the period. Dimensional Fund Advisors LP owned 5.20% of MGIC Investment worth $278,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of MTG. LSV Asset Management increased its stake in shares of MGIC Investment by 3.7% during the 4th quarter. LSV Asset Management now owns 10,808,716 shares of the insurance provider's stock worth $208,500,000 after purchasing an additional 381,151 shares in the last quarter. AQR Capital Management LLC boosted its stake in MGIC Investment by 30.3% during the 3rd quarter. AQR Capital Management LLC now owns 4,233,477 shares of the insurance provider's stock valued at $70,657,000 after acquiring an additional 985,512 shares during the last quarter. FMR LLC raised its holdings in shares of MGIC Investment by 26.7% during the third quarter. FMR LLC now owns 3,829,710 shares of the insurance provider's stock valued at $63,918,000 after buying an additional 807,637 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of MGIC Investment by 7.4% during the third quarter. American Century Companies Inc. now owns 3,332,552 shares of the insurance provider's stock valued at $55,620,000 after purchasing an additional 228,306 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of MGIC Investment by 47.3% in the third quarter. Invesco Ltd. now owns 3,174,560 shares of the insurance provider's stock valued at $52,983,000 after acquiring an additional 1,019,759 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on MTG shares. Roth Mkm raised their price objective on MGIC Investment from $21.00 to $24.00 and gave the stock a "buy" rating in a research report on Friday, February 2nd. Royal Bank of Canada lifted their target price on shares of MGIC Investment from $18.00 to $21.00 and gave the stock a "sector perform" rating in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $24.00 price objective (up previously from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $21.08.

MGIC Investment Stock Down 0.8 %

MGIC Investment stock traded down $0.17 during mid-day trading on Monday, reaching $21.08. The company's stock had a trading volume of 1,255,078 shares, compared to its average volume of 2,022,435. The business's 50 day simple moving average is $20.72 and its 200 day simple moving average is $19.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 1.05. MGIC Investment Co. has a 12 month low of $14.73 and a 12 month high of $22.43. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.05. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. The business had revenue of $294.40 million during the quarter, compared to analysts' expectations of $301.62 million. During the same quarter last year, the company posted $0.54 earnings per share. MGIC Investment's quarterly revenue was up 3.7% on a year-over-year basis. As a group, research 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. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, May 8th. MGIC Investment's dividend payout ratio (DPR) is currently 17.69%.

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.