MGIC Investment Co. (NYSE:MTG) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its position in shares of MGIC Investment Co. (NYSE:MTG) by 8.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,495,115 shares of the insurance provider’s stock after purchasing an additional 415,586 shares during the quarter. Allianz Asset Management GmbH owned 2.17% of MGIC Investment worth $130,289,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of MTG. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of MGIC Investment during the 3rd quarter valued at $13,535,000. Vest Financial LLC increased its position in shares of MGIC Investment by 33.4% during the 4th quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider’s stock valued at $35,213,000 after purchasing an additional 371,882 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of MGIC Investment during the 4th quarter valued at $8,362,000. Barclays PLC increased its position in shares of MGIC Investment by 75.1% during the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider’s stock valued at $11,716,000 after purchasing an additional 196,252 shares during the period. Finally, Taika Capital LP bought a new stake in shares of MGIC Investment during the 3rd quarter worth $4,123,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Stock Performance

Shares of MGIC Investment stock opened at $24.44 on Friday. The stock has a market cap of $6.19 billion, a PE ratio of 8.43 and a beta of 1.29. The business has a fifty day simple moving average of $24.36 and a 200-day simple moving average of $24.78. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a 12 month low of $18.98 and a 12 month high of $26.56.

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

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.13%. MGIC Investment’s payout ratio is 17.93%.

Analysts Set New Price Targets

MTG has been the subject of several research reports. Compass Point reissued a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Royal Bank of Canada reduced their price objective on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Barclays raised their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. UBS Group raised their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reduced their price objective on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, MGIC Investment currently has a consensus rating of “Hold” and a consensus target price of $26.75.

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.