XTX Topco Ltd Buys Shares of 34,919 MGIC Investment Co. (NYSE:MTG)

XTX Topco Ltd purchased a new stake in MGIC Investment Co. (NYSE:MTG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,919 shares of the insurance provider’s stock, valued at approximately $753,000.

Several other large investors have also modified their holdings of the business. Dimensional Fund Advisors LP grew its position in shares of MGIC Investment by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider’s stock valued at $326,375,000 after purchasing an additional 556,859 shares during the last quarter. First Trust Advisors LP grew its position in shares of MGIC Investment by 3.6% in the fourth quarter. First Trust Advisors LP now owns 12,067,181 shares of the insurance provider’s stock valued at $232,776,000 after purchasing an additional 415,628 shares during the last quarter. LSV Asset Management grew its position in shares of MGIC Investment by 1.6% in the first quarter. LSV Asset Management now owns 10,983,325 shares of the insurance provider’s stock valued at $245,587,000 after purchasing an additional 174,609 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of MGIC Investment by 2.4% in the first quarter. Clearbridge Investments LLC now owns 6,008,042 shares of the insurance provider’s stock valued at $134,340,000 after purchasing an additional 139,562 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of MGIC Investment by 1.5% in the second quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider’s stock valued at $73,167,000 after purchasing an additional 50,307 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Barclays increased their price target on shares of MGIC Investment from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Roth Mkm raised their target price on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. BTIG Research raised their target price on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Keefe, Bruyette & Woods upgraded shares of MGIC Investment from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $24.00 to $25.00 in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, MGIC Investment has an average rating of “Hold” and a consensus target price of $24.33.

MGIC Investment Stock Down 1.3 %

Shares of MTG opened at $25.38 on Monday. The firm has a market cap of $6.77 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28. The company’s fifty day moving average is $24.38 and its two-hundred day moving average is $22.16. MGIC Investment Co. has a fifty-two week low of $16.30 and a fifty-two week high of $25.93. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.15. The company had revenue of $305.28 million for the quarter, compared to analyst estimates of $301.02 million. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. MGIC Investment’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. Analysts forecast that MGIC Investment Co. will post 2.76 earnings per share for the current year.

MGIC Investment Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, August 8th. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.12. MGIC Investment’s dividend payout ratio (DPR) is 20.00%.

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.