MGIC Investment Co. (NYSE:MTG) Shares Bought by Assetmark Inc.

Assetmark Inc. grew its position in MGIC Investment Co. (NYSE:MTG) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,027,491 shares of the insurance provider’s stock after acquiring an additional 55,059 shares during the quarter. Assetmark Inc. owned approximately 0.41% of MGIC Investment worth $24,362,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in MTG. Hara Capital LLC bought a new stake in shares of MGIC Investment in the 3rd quarter valued at approximately $25,000. UMB Bank n.a. increased its holdings in shares of MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 938 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of MGIC Investment by 102.1% in the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 918 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of MGIC Investment by 61.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 794 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of MGIC Investment in the 3rd quarter valued at approximately $69,000. 95.58% of the stock is currently owned by institutional investors.

Insider Transactions at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lowered their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Barclays upped 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 upped 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, February 19th. Compass Point restated 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. Finally, Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price objective for the stock 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 assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.75.

MGIC Investment Trading Up 0.6 %

Shares of NYSE:MTG opened at $23.77 on Thursday. The company has a 50 day moving average of $24.38 and a 200-day moving average of $24.82. The firm has a market cap of $5.77 billion, a P/E ratio of 8.19 and a beta of 1.29. MGIC Investment Co. has a twelve month low of $19.26 and a twelve month high of $26.56. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share 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%. As a group, analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s dividend payout ratio is currently 17.93%.

About MGIC Investment

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.