V Square Quantitative Management LLC Invests $33,000 in MGIC Investment Co. (NYSE:MTG)

V Square Quantitative Management LLC acquired a new position in MGIC Investment Co. (NYSE:MTG) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 1,283 shares of the insurance provider’s stock, valued at approximately $33,000.

Several other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc raised its stake in MGIC Investment by 482.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 946 shares during the period. CWM LLC raised its stake in MGIC Investment by 249.1% during the 1st quarter. CWM LLC now owns 2,175 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 1,552 shares during the period. Fidelis Capital Partners LLC bought a new stake in MGIC Investment during the 1st quarter valued at approximately $50,000. GAMMA Investing LLC raised its stake in MGIC Investment by 76.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider’s stock valued at $66,000 after purchasing an additional 1,328 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in MGIC Investment by 600.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the insurance provider’s stock valued at $94,000 after purchasing an additional 3,600 shares during the period. Institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Roth Mkm lifted their target price on MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. BTIG Research lifted their price objective on MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Barclays lifted their price objective on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

MGIC Investment Stock Performance

NYSE:MTG opened at $25.37 on Tuesday. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 9.76, a PEG 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 stock’s 50 day simple moving average is $25.11 and its two-hundred day simple moving average is $22.79. MGIC Investment Co. has a 1 year low of $16.32 and a 1 year high of $26.52.

MGIC Investment (NYSE:MTG) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15. The firm had revenue of $305.28 million during the quarter, compared to analysts’ expectations of $301.02 million. MGIC Investment had a return on equity of 14.97% and a net margin of 63.19%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 EPS. As a group, equities analysts anticipate that MGIC Investment Co. will post 2.76 earnings per share for the current fiscal 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 issued a $0.13 dividend. This is a boost from MGIC Investment’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, August 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. MGIC Investment’s payout ratio is 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.