KBC Group NV Increases Stock Position in MGIC Investment Co. (NYSE:MTG)

KBC Group NV increased its position in shares of MGIC Investment Co. (NYSE:MTG) by 16.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,386 shares of the insurance provider’s stock after buying an additional 1,043 shares during the quarter. KBC Group NV’s holdings in MGIC Investment were worth $189,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MTG. O Shaughnessy Asset Management LLC boosted its holdings in MGIC Investment by 4.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 119,646 shares of the insurance provider’s stock worth $2,675,000 after buying an additional 4,906 shares in the last quarter. Seven Eight Capital LP purchased a new position in MGIC Investment during the first quarter valued at $445,000. CANADA LIFE ASSURANCE Co lifted its holdings in MGIC Investment by 5.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 303,583 shares of the insurance provider’s stock valued at $6,787,000 after purchasing an additional 15,958 shares in the last quarter. Vident Advisory LLC lifted its holdings in MGIC Investment by 21.1% during the first quarter. Vident Advisory LLC now owns 212,660 shares of the insurance provider’s stock valued at $4,755,000 after purchasing an additional 37,030 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in MGIC Investment by 1.4% during the first quarter. Public Employees Retirement System of Ohio now owns 189,400 shares of the insurance provider’s stock valued at $4,235,000 after purchasing an additional 2,580 shares in the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. BTIG Research increased their price objective 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. Royal Bank of Canada decreased their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Barclays raised 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 note on Tuesday, October 8th. Finally, Roth Mkm raised their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

MGIC Investment Price Performance

MGIC Investment stock opened at $24.75 on Thursday. MGIC Investment Co. has a 12-month low of $17.31 and a 12-month high of $26.52. The stock has a market cap of $6.27 billion, a P/E ratio of 8.71, a PEG ratio of 1.81 and a beta of 1.28. The company has a 50-day moving average price of $25.17 and a 200 day moving average price of $23.47. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

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

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, November 7th. MGIC Investment’s payout ratio is currently 18.31%.

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.