William Blair Investment Management LLC Purchases 32,980 Shares of MGIC Investment Co. (NYSE:MTG)

William Blair Investment Management LLC raised its position in MGIC Investment Co. (NYSE:MTG) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,364,725 shares of the insurance provider’s stock after buying an additional 32,980 shares during the quarter. William Blair Investment Management LLC owned about 0.54% of MGIC Investment worth $32,358,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. 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 grew its holdings in shares of MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 918 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in shares of MGIC Investment by 61.9% during the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 794 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of MGIC Investment by 21.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 419 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of MGIC Investment during the 3rd quarter valued at approximately $69,000. 95.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

MGIC Investment Stock Up 0.6 %

Shares of NYSE MTG opened at $23.18 on Wednesday. The company has a market capitalization of $5.63 billion, a P/E ratio of 7.99 and a beta of 1.28. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The company’s 50 day moving average price is $24.28 and its 200-day moving average price is $24.72.

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 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%. Equities analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.24%. MGIC Investment’s payout ratio is presently 17.93%.

Insider Activity at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the business’s 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 owns 75,070 shares in the company, valued at $1,842,968.50. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is owned by corporate insiders.

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.