Natixis Advisors LLC Buys 42,088 Shares of MGIC Investment Co. (NYSE:MTG)

Natixis Advisors LLC raised its stake in shares of MGIC Investment Co. (NYSE:MTG) by 38.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152,404 shares of the insurance provider’s stock after purchasing an additional 42,088 shares during the period. Natixis Advisors LLC owned 0.06% of MGIC Investment worth $3,902,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MTG. Versant Capital Management Inc raised its holdings in MGIC Investment by 482.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 946 shares during the period. Hara Capital LLC bought a new position in MGIC Investment during the third quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new position in MGIC Investment in the 3rd quarter valued at approximately $33,000. GAMMA Investing LLC lifted its position in shares of MGIC Investment by 76.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider’s stock worth $66,000 after acquiring an additional 1,328 shares during the period. Finally, Covestor Ltd grew its holdings in shares of MGIC Investment by 65.5% during the 3rd quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 1,341 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Stock Up 2.1 %

Shares of NYSE MTG opened at $25.50 on Friday. The business has a fifty day moving average of $25.19 and a two-hundred day moving average of $23.52. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. MGIC Investment Co. has a 52-week low of $17.31 and a 52-week high of $26.52. The stock has a market cap of $6.46 billion, a PE ratio of 8.98, a PEG ratio of 1.81 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.11. The firm had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. As a group, equities research analysts expect that MGIC Investment Co. will post 2.81 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, November 7th. MGIC Investment’s payout ratio is presently 18.31%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTG. BTIG Research upped their target price on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Roth Mkm boosted their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada reduced 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 report on Wednesday, November 6th. Finally, Barclays upped their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat, MGIC Investment presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

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.