Vanguard Capital Wealth Advisors Purchases New Stake in MGIC Investment Co. (NYSE:MTG)

Vanguard Capital Wealth Advisors acquired a new position in shares of MGIC Investment Co. (NYSE:MTG) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,500 shares of the insurance provider’s stock, valued at approximately $448,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTG. Versant Capital Management Inc raised its holdings 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 purchasing an additional 946 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in MGIC Investment during the third quarter worth $33,000. Fidelis Capital Partners LLC acquired a new position in MGIC Investment during the first quarter worth $50,000. GAMMA Investing LLC raised its holdings 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 purchasing an additional 1,328 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings 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 worth $94,000 after purchasing an additional 3,600 shares during the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Performance

MGIC Investment stock opened at $25.21 on Wednesday. The stock has a fifty day moving average price of $25.29 and a 200 day moving average price of $23.00. MGIC Investment Co. has a 52 week low of $16.47 and a 52 week high of $26.52. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $6.54 billion, a P/E ratio of 9.30, a PEG ratio of 1.32 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last posted 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. MGIC Investment had a return on equity of 14.97% and a net margin of 63.19%. The firm had revenue of $305.28 million during the quarter, compared to the consensus estimate of $301.02 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that MGIC Investment Co. will post 2.76 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, November 7th. MGIC Investment’s payout ratio is 19.19%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MTG. Barclays boosted their price target on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. BTIG Research boosted 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. Finally, Roth Mkm boosted their price target on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.50.

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.