Nicholas Investment Partners LP Has $12.82 Million Holdings in MGIC Investment Co. (NYSE:MTG)

Nicholas Investment Partners LP grew its holdings in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 664,312 shares of the insurance provider's stock after buying an additional 69,701 shares during the period. MGIC Investment accounts for about 1.5% of Nicholas Investment Partners LP's investment portfolio, making the stock its 10th biggest holding. Nicholas Investment Partners LP owned 0.24% of MGIC Investment worth $12,815,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MTG. Invesco Ltd. increased its stake in shares of MGIC Investment by 47.3% during 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 during the period. AQR Capital Management LLC lifted its holdings in shares of MGIC Investment by 30.3% in the third quarter. AQR Capital Management LLC now owns 4,233,477 shares of the insurance provider's stock valued at $70,657,000 after buying an additional 985,512 shares during the period. LSV Asset Management boosted its stake in MGIC Investment by 8.5% during the third quarter. LSV Asset Management now owns 10,427,565 shares of the insurance provider's stock valued at $174,036,000 after buying an additional 820,182 shares in the last quarter. FMR LLC grew its holdings in MGIC Investment by 26.7% during the third quarter. FMR LLC now owns 3,829,710 shares of the insurance provider's stock worth $63,918,000 after acquiring an additional 807,637 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in MGIC Investment by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,412,645 shares of the insurance provider's stock worth $278,023,000 after acquiring an additional 553,155 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Stock Up 0.5 %

NYSE:MTG traded up $0.11 during trading hours on Wednesday, hitting $21.06. 1,364,912 shares of the company's stock traded hands, compared to its average volume of 2,014,608. The stock's fifty day moving average price is $20.77 and its two-hundred day moving average price is $19.48. The firm has a market cap of $5.61 billion, a P/E ratio of 8.10, a P/E/G ratio of 1.70 and a beta of 1.24. 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 twelve month low of $14.73 and a twelve month high of $22.43.

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

MGIC Investment Announces Dividend

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 given a $0.115 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.46 dividend on an annualized basis and a yield of 2.18%. MGIC Investment's payout ratio is 17.69%.

Analyst Ratings Changes

MTG has been the subject of several research reports. 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 note on Friday, February 2nd. Keefe, Bruyette & Woods restated a "market perform" rating and set a $24.00 price objective (up previously from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Finally, Royal Bank of Canada raised 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. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target 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.

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