Robeco Institutional Asset Management B.V. Buys 9,031 Shares of MGIC Investment Co. (NYSE:MTG)

Robeco Institutional Asset Management B.V. increased its stake in MGIC Investment Co. (NYSE:MTG) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 807,485 shares of the insurance provider’s stock after acquiring an additional 9,031 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in MGIC Investment were worth $19,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. State Street Corp grew its stake in MGIC Investment by 0.8% in 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. Franklin Resources Inc. grew 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 valued at $41,836,000 after buying an additional 98,369 shares in the last quarter. Vest Financial LLC grew its stake in MGIC Investment by 3.7% in the 3rd quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider’s stock valued at $28,499,000 after buying an additional 39,502 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in MGIC Investment in the 3rd quarter valued at approximately $13,535,000. Finally, Barclays PLC grew its stake in MGIC Investment by 75.1% in the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider’s stock valued at $11,716,000 after buying an additional 196,252 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MTG shares. Barclays lifted their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their price target for the company from $26.00 to $25.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods reduced their price target on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada reduced their price target on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.86.

MGIC Investment Stock Down 0.8 %

MTG opened at $25.51 on Friday. The stock has a market cap of $6.46 billion, a PE ratio of 8.98, a P/E/G ratio of 1.90 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. MGIC Investment Co. has a 52 week low of $18.68 and a 52 week high of $26.56. The business’s fifty day simple moving average is $24.55 and its 200 day simple moving average is $24.68.

MGIC Investment (NYSE:MTG) last released its earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. The business had revenue of $306.65 million for 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%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. As a group, research analysts expect that MGIC Investment Co. will post 2.85 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 Wednesday, March 5th. Investors of record on Tuesday, February 18th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.04%. MGIC Investment’s dividend payout ratio is presently 18.31%.

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.