Quantinno Capital Management LP Acquires 35,125 Shares of MGIC Investment Co. (NYSE:MTG)

Quantinno Capital Management LP boosted its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 50.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,392 shares of the insurance provider’s stock after purchasing an additional 35,125 shares during the quarter. Quantinno Capital Management LP’s holdings in MGIC Investment were worth $2,672,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTG. Hara Capital LLC acquired a new position in shares of MGIC Investment during the third quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in MGIC Investment during the third quarter worth $33,000. Brooklyn Investment Group acquired a new position in MGIC Investment during the 3rd quarter valued at $69,000. Covestor Ltd boosted its holdings in MGIC Investment by 65.5% in the 3rd quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock valued at $87,000 after purchasing an additional 1,341 shares during the period. Finally, Blue Trust Inc. grew its position in MGIC Investment by 233.4% in the 2nd quarter. Blue Trust Inc. now owns 4,985 shares of the insurance provider’s stock worth $111,000 after purchasing an additional 3,490 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on MTG. Barclays upped 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 report on Tuesday, October 8th. Royal Bank of Canada cut 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. Finally, Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $26.00 to $25.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, MGIC Investment presently has a consensus rating of “Hold” and an average price target of $25.43.

MGIC Investment Stock Down 3.5 %

Shares of MTG opened at $24.63 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $25.28 and a two-hundred day moving average price of $23.93. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 1.82 and a beta of 1.27. MGIC Investment Co. has a 12 month low of $18.04 and a 12 month high of $26.56.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.66 by $0.11. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The business had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. During the same quarter last year, the company earned $0.64 EPS. MGIC Investment’s revenue was up 3.4% on a year-over-year basis. Equities analysts predict that MGIC Investment Co. will post 2.85 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is currently 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.