MGIC Investment Co. (NYSE:MTG) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC grew its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 163,881 shares of the insurance provider’s stock after purchasing an additional 11,477 shares during the period. Natixis Advisors LLC’s holdings in MGIC Investment were worth $3,886,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of MGIC Investment by 6.5% during the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock worth $41,836,000 after purchasing an additional 98,369 shares during the period. Vestcor Inc increased its holdings in shares of MGIC Investment by 559.3% in the 3rd quarter. Vestcor Inc now owns 60,094 shares of the insurance provider’s stock worth $1,538,000 after acquiring an additional 50,979 shares during the period. Ritholtz Wealth Management increased its holdings in shares of MGIC Investment by 13.4% in the 4th quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider’s stock worth $2,174,000 after acquiring an additional 10,864 shares during the period. Hancock Whitney Corp acquired a new stake in shares of MGIC Investment in the 3rd quarter worth about $777,000. Finally, Janney Montgomery Scott LLC increased its holdings in shares of MGIC Investment by 33.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 40,398 shares of the insurance provider’s stock worth $958,000 after acquiring an additional 10,130 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MTG shares. Barclays increased their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their price objective 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, January 8th. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and decreased their target price for the company from $26.00 to $25.00 in a research report on Monday, December 9th. Compass Point reissued a “neutral” rating and set a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Finally, UBS Group raised their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.75.

MGIC Investment Stock Performance

Shares of MTG opened at $23.52 on Friday. The firm’s 50 day moving average is $24.29 and its 200-day moving average is $24.69. The stock has a market capitalization of $5.71 billion, a P/E ratio of 8.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. MGIC Investment Co. has a 12-month low of $19.26 and a 12-month high of $26.56.

MGIC Investment (NYSE:MTG) last released its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Equities research analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is currently 17.93%.

Insider Transactions at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the transaction, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.05% of the stock is currently owned by insiders.

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.