Diversified Trust Co Buys 5,779 Shares of MGIC Investment Co. (NYSE:MTG)

Diversified Trust Co increased its stake in shares of MGIC Investment Co. (NYSE:MTG) by 22.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,720 shares of the insurance provider’s stock after acquiring an additional 5,779 shares during the quarter. Diversified Trust Co’s holdings in MGIC Investment were worth $752,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings 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 valued at $326,375,000 after buying an additional 556,859 shares during the period. State Street Corp increased its holdings in MGIC Investment by 0.8% in the 3rd quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock valued at $232,767,000 after buying an additional 73,851 shares during the period. American Century Companies Inc. increased its holdings in MGIC Investment by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider’s stock valued at $73,167,000 after buying an additional 50,307 shares during the period. Franklin Resources Inc. increased 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 during the period. Finally, Vest Financial LLC increased its holdings in MGIC Investment by 3.7% in the 3rd quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider’s stock valued at $28,499,000 after buying an additional 39,502 shares during the period. Institutional investors own 95.58% of the company’s stock.

Analysts Set New Price Targets

MTG has been the topic of several analyst reports. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price target for the company from $26.00 to $25.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods lowered their price target on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday. Barclays upped their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada lowered their target price 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.86.

MGIC Investment Stock Up 0.8 %

Shares of NYSE:MTG opened at $23.62 on Friday. MGIC Investment Co. has a 12 month low of $18.68 and a 12 month high of $26.56. The company’s 50-day moving average price is $24.55 and its two-hundred day moving average price is $24.37. 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 firm has a market cap of $5.98 billion, a P/E ratio of 8.32, a P/E/G ratio of 1.75 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $306.03 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts forecast that MGIC Investment Co. will post 2.85 EPS 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 paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is presently 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.