Caisse Des Depots ET Consignations Takes $670,000 Position in MGIC Investment Co. (NYSE:MTG)

Caisse Des Depots ET Consignations bought a new position in MGIC Investment Co. (NYSE:MTG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,275 shares of the insurance provider’s stock, valued at approximately $670,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elo Mutual Pension Insurance Co purchased a new stake in shares of MGIC Investment during the 4th quarter worth approximately $561,000. KLP Kapitalforvaltning AS purchased a new stake in MGIC Investment during the fourth quarter valued at $1,982,000. AXQ Capital LP bought a new position in MGIC Investment during the fourth quarter valued at $242,000. Teacher Retirement System of Texas grew its stake in shares of MGIC Investment by 2.7% in the 4th quarter. Teacher Retirement System of Texas now owns 373,411 shares of the insurance provider’s stock worth $8,854,000 after buying an additional 9,939 shares in the last quarter. Finally, Xponance Inc. increased its holdings in shares of MGIC Investment by 1.3% in the 4th quarter. Xponance Inc. now owns 35,320 shares of the insurance provider’s stock worth $837,000 after buying an additional 442 shares during the last quarter. 95.58% of the stock is owned by institutional investors.

Insider Transactions at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction dated 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 in the company, valued at $1,842,968.50. This represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.05% of the company’s stock.

Analysts Set New Price Targets

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

MGIC Investment Trading Up 0.5 %

MTG stock opened at $24.85 on Friday. MGIC Investment Co. has a 12 month low of $19.26 and a 12 month high of $26.56. The firm’s 50-day moving average is $24.34 and its 200 day moving average is $24.67. The company has a market capitalization of $6.03 billion, a PE ratio of 8.57 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. On average, research analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s dividend payout ratio is 17.93%.

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.