CWA Asset Management Group LLC Grows Position in MGIC Investment Co. (NYSE:MTG)

CWA Asset Management Group LLC lifted its holdings in MGIC Investment Co. (NYSE:MTG) by 25.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,304 shares of the insurance provider’s stock after buying an additional 7,068 shares during the period. CWA Asset Management Group LLC’s holdings in MGIC Investment were worth $837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in MGIC Investment by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider’s stock worth $326,375,000 after purchasing an additional 556,859 shares in the last quarter. State Street Corp lifted its position in MGIC Investment by 0.8% during the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock worth $232,767,000 after buying an additional 73,851 shares in the last quarter. American Century Companies Inc. boosted its stake in MGIC Investment by 1.5% during the second quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider’s stock worth $73,167,000 after buying an additional 50,307 shares during the last quarter. Franklin Resources Inc. grew its holdings in MGIC Investment by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after buying an additional 98,369 shares in the last quarter. Finally, Vest Financial LLC increased its stake in shares of MGIC Investment by 3.7% in the 3rd quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider’s stock worth $28,499,000 after acquiring an additional 39,502 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MTG shares. Barclays boosted their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada dropped their price target 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $29.00 price target on shares of MGIC Investment in a research report on Tuesday, December 10th. Finally, Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, MGIC Investment presently has a consensus rating of “Hold” and a consensus target price of $26.00.

MGIC Investment Trading Down 0.1 %

MTG opened at $23.41 on Wednesday. MGIC Investment Co. has a 52 week low of $18.68 and a 52 week high of $26.56. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $24.62 and a 200-day simple moving average of $24.38. The firm has a market cap of $5.93 billion, a P/E ratio of 8.24, a P/E/G ratio of 1.75 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last announced its earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. The company had revenue of $306.65 million during the quarter, compared to analysts’ expectations of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. MGIC Investment’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. On average, equities analysts expect that MGIC Investment Co. will post 2.85 earnings per share for the current year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.13 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 2.22%. MGIC Investment’s dividend payout ratio (DPR) is 18.31%.

MGIC Investment 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.