James Investment Research Inc. Acquires 5,200 Shares of MGIC Investment Co. (NYSE:MTG)

James Investment Research Inc. lifted its holdings in MGIC Investment Co. (NYSE:MTG) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,825 shares of the insurance provider’s stock after buying an additional 5,200 shares during the period. James Investment Research Inc.’s holdings in MGIC Investment were worth $2,018,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MTG. Versant Capital Management Inc increased its stake in MGIC Investment by 482.7% during the second 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 last quarter. V Square Quantitative Management LLC purchased a new stake in MGIC Investment during the 3rd quarter valued at $33,000. Fidelis Capital Partners LLC bought a new stake in MGIC Investment in the first quarter worth $50,000. GAMMA Investing LLC boosted its stake in MGIC Investment by 76.2% during the second quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider’s stock worth $66,000 after buying an additional 1,328 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in MGIC Investment by 600.0% during the first quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the insurance provider’s stock valued at $94,000 after acquiring an additional 3,600 shares during the last quarter. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on MTG. Barclays lifted their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Roth Mkm upped their target price on MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, BTIG Research increased their price target on MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.50.

MGIC Investment Price Performance

Shares of MTG opened at $23.57 on Friday. The stock has a market capitalization of $6.11 billion, a PE ratio of 8.70, a PEG ratio of 1.35 and a beta of 1.28. The company has a 50 day moving average price of $25.31 and a 200-day moving average price of $23.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.11 and a current ratio of 1.11. MGIC Investment Co. has a fifty-two week low of $16.95 and a fifty-two week high of $26.52.

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

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a $0.13 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 2.21%. MGIC Investment’s dividend payout ratio is presently 19.19%.

MGIC Investment Company 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.