Ensign Peak Advisors Inc Buys 5,560 Shares of MGIC Investment Co. (NYSE:MTG)

Ensign Peak Advisors Inc raised its stake in MGIC Investment Co. (NYSE:MTG) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,039 shares of the insurance provider’s stock after purchasing an additional 5,560 shares during the period. Ensign Peak Advisors Inc’s holdings in MGIC Investment were worth $3,169,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MTG. Jupiter Asset Management Ltd. increased its position in MGIC Investment by 134.8% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,537,972 shares of the insurance provider’s stock valued at $34,389,000 after buying an additional 882,984 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of MGIC Investment by 33.6% during the fourth quarter. Allianz Asset Management GmbH now owns 3,008,255 shares of the insurance provider’s stock valued at $58,029,000 after acquiring an additional 757,021 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of MGIC Investment by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider’s stock worth $326,375,000 after purchasing an additional 556,859 shares during the period. WINTON GROUP Ltd lifted its holdings in shares of MGIC Investment by 440.3% in the 2nd quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider’s stock worth $11,228,000 after purchasing an additional 424,580 shares in the last quarter. Finally, First Trust Advisors LP grew its position in MGIC Investment by 3.6% in the 4th quarter. First Trust Advisors LP now owns 12,067,181 shares of the insurance provider’s stock valued at $232,776,000 after purchasing an additional 415,628 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MTG. Keefe, Bruyette & Woods raised shares of MGIC Investment from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $24.00 to $25.00 in a research note on Monday, June 3rd. Barclays raised their price target on shares of MGIC Investment from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Roth Mkm boosted their price objective on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, BTIG Research raised their target price on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.33.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $25.38 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $6.77 billion, a PE ratio of 9.76, a PEG ratio of 1.37 and a beta of 1.28. The stock’s 50 day moving average price is $24.51 and its 200-day moving average price is $22.26. MGIC Investment Co. has a twelve month low of $16.30 and a twelve month high of $25.93.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.15. The firm had revenue of $305.28 million during the quarter, compared to the consensus estimate of $301.02 million. MGIC Investment had a return on equity of 14.97% and a net margin of 63.19%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. On average, equities analysts anticipate that MGIC Investment Co. will post 2.76 EPS for the current year.

MGIC Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a $0.13 dividend. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, August 8th. This represents a $0.52 annualized dividend and a yield of 2.05%. MGIC Investment’s payout ratio is currently 20.00%.

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.