33,600 Shares in MGIC Investment Co. (NYSE:MTG) Acquired by Integrated Quantitative Investments LLC

Integrated Quantitative Investments LLC acquired a new stake in shares of MGIC Investment Co. (NYSE:MTG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,600 shares of the insurance provider’s stock, valued at approximately $797,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. grew its holdings in shares of MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 938 shares during the last quarter. Venturi Wealth Management LLC boosted its position in MGIC Investment by 102.1% in the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after buying an additional 918 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of MGIC Investment by 61.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock worth $49,000 after buying an additional 794 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new position in shares of MGIC Investment during the fourth quarter worth $54,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of MGIC Investment by 21.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 419 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.

MGIC Investment Stock Down 5.1 %

Shares of NYSE MTG opened at $23.09 on Friday. The company’s 50 day moving average price is $24.33 and its 200-day moving average price is $24.66. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56. The company has a market capitalization of $5.60 billion, a P/E ratio of 7.96 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last released its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Equities analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.25%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Barclays boosted their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. UBS Group boosted their price target on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods dropped their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. Compass Point reissued a “neutral” rating and set a $27.00 target price (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Finally, Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and dropped their price target for the company from $26.00 to $25.00 in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, MGIC Investment currently has an average rating of “Hold” and an average price target of $26.75.

Insiders Place Their Bets

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the transaction, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.05% of the company’s stock.

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.