Monument Capital Management Has $3.15 Million Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Monument Capital Management lessened its stake in shares of MGIC Investment Co. (NYSE:MTG) by 5.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 140,781 shares of the insurance provider’s stock after selling 8,464 shares during the quarter. Monument Capital Management owned about 0.05% of MGIC Investment worth $3,148,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MTG. Norges Bank acquired a new stake in shares of MGIC Investment during the 4th quarter worth about $62,047,000. NFC Investments LLC acquired a new stake in MGIC Investment in the 4th quarter worth about $37,183,000. AQR Capital Management LLC raised its position in shares of MGIC Investment by 30.3% in the 3rd quarter. AQR Capital Management LLC now owns 4,233,477 shares of the insurance provider’s stock valued at $70,657,000 after buying an additional 985,512 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of MGIC Investment by 33.6% in the 4th quarter. Allianz Asset Management GmbH now owns 3,008,255 shares of the insurance provider’s stock valued at $58,029,000 after buying an additional 757,021 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of MGIC Investment by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,412,645 shares of the insurance provider’s stock valued at $278,023,000 after buying an additional 553,155 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Price Performance

Shares of MGIC Investment stock traded down $0.21 during midday trading on Wednesday, hitting $21.65. 293,252 shares of the company traded hands, compared to its average volume of 1,897,541. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 7.26 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s fifty day moving average price is $20.93 and its 200-day moving average price is $20.30. MGIC Investment Co. has a 12 month low of $15.19 and a 12 month high of $22.43.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. The company had revenue of $294.40 million for the quarter, compared to analyst estimates of $301.62 million. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. As a group, sell-side analysts forecast that MGIC Investment Co. will post 2.52 earnings per share for the current year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Thursday, May 9th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Wednesday, May 8th. MGIC Investment’s payout ratio is 17.69%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. UBS Group boosted their target price on shares of MGIC Investment from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods upgraded shares of MGIC Investment from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $24.00 to $25.00 in a research report on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MGIC Investment currently has an average rating of “Hold” and an average target price of $21.83.

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.