GAMMA Investing LLC Has $111,000 Position in MGIC Investment Co. (NYSE:MTG)

GAMMA Investing LLC grew its position in MGIC Investment Co. (NYSE:MTG) by 41.7% during the 3rd quarter, Holdings Channel reports. The firm owned 4,352 shares of the insurance provider’s stock after purchasing an additional 1,281 shares during the quarter. GAMMA Investing LLC’s holdings in MGIC Investment were worth $111,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vident Advisory LLC boosted its position in MGIC Investment by 21.1% in the first quarter. Vident Advisory LLC now owns 212,660 shares of the insurance provider’s stock valued at $4,755,000 after buying an additional 37,030 shares in the last quarter. LSV Asset Management increased its holdings in MGIC Investment by 1.6% during the 1st quarter. LSV Asset Management now owns 10,983,325 shares of the insurance provider’s stock valued at $245,587,000 after purchasing an additional 174,609 shares in the last quarter. Sei Investments Co. raised its position in MGIC Investment by 31.7% in the 1st quarter. Sei Investments Co. now owns 496,778 shares of the insurance provider’s stock valued at $11,108,000 after purchasing an additional 119,476 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in MGIC Investment by 110.9% in the first quarter. Janney Montgomery Scott LLC now owns 61,539 shares of the insurance provider’s stock worth $1,376,000 after purchasing an additional 32,358 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of MGIC Investment by 24.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 369,053 shares of the insurance provider’s stock worth $8,132,000 after purchasing an additional 73,474 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays lifted their price target on MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. BTIG Research raised their price target on shares of MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Roth Mkm upped 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

MGIC Investment Trading Up 0.9 %

MTG opened at $25.67 on Monday. MGIC Investment Co. has a fifty-two week low of $16.32 and a fifty-two week high of $25.93. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 1.35 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $24.82 and a 200 day simple moving average of $22.61.

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

MGIC Investment Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.13 per share. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Thursday, August 8th. MGIC Investment’s payout ratio is presently 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.