Ontario Teachers Pension Plan Board Buys 13,564 Shares of MGIC Investment Co. (NYSE:MTG)

Ontario Teachers Pension Plan Board increased its holdings in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 24.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,976 shares of the insurance provider's stock after acquiring an additional 13,564 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in MGIC Investment were worth $1,659,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. XTX Topco Ltd bought a new position in shares of MGIC Investment during the fourth quarter worth approximately $1,038,000. Barclays PLC grew its position in MGIC Investment by 123.5% during the fourth quarter. Barclays PLC now owns 1,023,175 shares of the insurance provider's stock worth $24,260,000 after buying an additional 565,469 shares in the last quarter. Bragg Financial Advisors Inc raised its holdings in MGIC Investment by 0.3% in the 4th quarter. Bragg Financial Advisors Inc now owns 907,220 shares of the insurance provider's stock valued at $21,510,000 after acquiring an additional 2,966 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of MGIC Investment by 3.6% during the 4th quarter. Sterling Capital Management LLC now owns 74,227 shares of the insurance provider's stock worth $1,760,000 after purchasing an additional 2,591 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of MGIC Investment by 2.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 330,847 shares of the insurance provider's stock worth $7,844,000 after purchasing an additional 9,065 shares during the period. Institutional investors and hedge funds own 95.58% of the company's stock.

MGIC Investment Price Performance

Shares of MGIC Investment stock traded down $0.39 during trading on Monday, hitting $23.65. The stock had a trading volume of 156,340 shares, compared to its average volume of 1,797,683. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 8.15 and a beta of 0.93. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The business's 50-day moving average is $23.90 and its 200 day moving average is $24.50. MGIC Investment Co. has a 12 month low of $19.81 and a 12 month high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. As a group, sell-side analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment's payout ratio is 17.93%.

Wall Street Analyst Weigh In

MTG has been the topic of a number of analyst reports. Compass Point reiterated a "neutral" rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Barclays increased their target price on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods cut their price target on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group increased their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, MGIC Investment currently has a consensus rating of "Hold" and an average target price of $26.50.

Insider Activity

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.41% of the company's stock.

MGIC Investment 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.