Fortem Financial Group LLC Has $1.57 Million Stake in MGIC Investment Co. (NYSE:MTG)

Fortem Financial Group LLC raised its stake in shares of MGIC Investment Co. (NYSE:MTG) by 3.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 66,203 shares of the insurance provider’s stock after purchasing an additional 2,054 shares during the period. Fortem Financial Group LLC’s holdings in MGIC Investment were worth $1,570,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in 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 worth $326,375,000 after purchasing an additional 556,859 shares during the last quarter. State Street Corp lifted its stake in shares of MGIC Investment by 0.8% during 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 in the last quarter. American Century Companies Inc. lifted its position in shares of 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 acquiring an additional 50,307 shares in the last quarter. Franklin Resources Inc. boosted its stake 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 worth $41,836,000 after purchasing an additional 98,369 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of MGIC Investment by 0.3% in the second quarter. Los Angeles Capital Management LLC now owns 1,438,727 shares of the insurance provider’s stock worth $31,005,000 after buying an additional 4,602 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Trading Down 1.6 %

MTG traded down $0.38 on Monday, hitting $23.47. The company had a trading volume of 898,078 shares, compared to its average volume of 1,311,830. The company has a market cap of $5.95 billion, a PE ratio of 8.26, a PEG ratio of 1.75 and a beta of 1.29. 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’s fifty day simple moving average is $24.69 and its 200 day simple moving average is $24.35. MGIC Investment Co. has a 12-month low of $18.68 and a 12-month high of $26.56.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 earnings per share (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 was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. Equities research analysts expect that MGIC Investment Co. will post 2.85 EPS for the current year.

MGIC Investment Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective 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. Royal Bank of Canada cut their price target 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 target price on shares of MGIC Investment in a research report on Tuesday, December 10th. Finally, Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.00.

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.