Janney Montgomery Scott LLC Has $775,000 Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Janney Montgomery Scott LLC increased its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 190.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 30,268 shares of the insurance provider’s stock after acquiring an additional 19,861 shares during the quarter. Janney Montgomery Scott LLC’s holdings in MGIC Investment were worth $775,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MTG. Vident Advisory LLC lifted its position in shares of MGIC Investment by 21.1% in the 1st quarter. Vident Advisory LLC now owns 212,660 shares of the insurance provider’s stock worth $4,755,000 after purchasing an additional 37,030 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of MGIC Investment by 24.9% in the 1st 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 period. Clearbridge Investments LLC lifted its position in shares of MGIC Investment by 2.4% in the 1st quarter. Clearbridge Investments LLC now owns 6,008,042 shares of the insurance provider’s stock worth $134,340,000 after purchasing an additional 139,562 shares during the period. Edgestream Partners L.P. lifted its position in shares of MGIC Investment by 153.9% in the 2nd quarter. Edgestream Partners L.P. now owns 244,980 shares of the insurance provider’s stock worth $5,279,000 after purchasing an additional 148,494 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in shares of MGIC Investment by 14.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 505,155 shares of the insurance provider’s stock worth $10,886,000 after purchasing an additional 65,315 shares during the period. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MTG has been the topic of a number of recent analyst reports. BTIG Research boosted their price target on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays boosted their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Roth Mkm boosted their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada lowered their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, MGIC Investment presently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

MGIC Investment Stock Performance

NYSE:MTG opened at $24.91 on Monday. The company has a fifty day moving average of $25.18 and a 200-day moving average of $23.39. The firm has a market capitalization of $6.31 billion, a P/E ratio of 8.77, a P/E/G ratio of 1.81 and a beta of 1.28. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a twelve month low of $17.25 and a twelve month high of $26.52.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.11. The company had revenue of $306.65 million during the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. MGIC Investment’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, sell-side analysts anticipate that MGIC Investment Co. will post 2.81 EPS for the current year.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 2.09%. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.

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.