Vest Financial LLC boosted its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,113,258 shares of the insurance provider's stock after acquiring an additional 39,502 shares during the quarter. Vest Financial LLC owned 0.42% of MGIC Investment worth $28,499,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in MTG. Nations Financial Group Inc. IA ADV increased its stake in shares of MGIC Investment by 1.6% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 35,306 shares of the insurance provider's stock worth $761,000 after purchasing an additional 565 shares during the last quarter. Fortem Financial Group LLC lifted its holdings in shares of MGIC Investment by 1.0% during the 2nd quarter. Fortem Financial Group LLC now owns 75,447 shares of the insurance provider's stock worth $1,626,000 after acquiring an additional 747 shares during the last quarter. Versant Capital Management Inc raised its position in MGIC Investment by 482.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider's stock worth $25,000 after purchasing an additional 946 shares during the period. QRG Capital Management Inc. increased its position in shares of MGIC Investment by 7.7% in the second quarter. QRG Capital Management Inc. now owns 15,152 shares of the insurance provider's stock valued at $327,000 after acquiring an additional 1,081 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of MGIC Investment by 41.7% in the third quarter. GAMMA Investing LLC now owns 4,352 shares of the insurance provider's stock valued at $111,000 after acquiring an additional 1,281 shares during the period. Institutional investors own 95.58% of the company's stock.
Shares of NYSE MTG traded down $0.40 during trading hours on Friday, hitting $25.99. 1,558,327 shares of the stock were exchanged, compared to its average volume of 1,762,958. The company has a market cap of $6.93 billion, a PE ratio of 10.00, a PEG ratio of 1.35 and a beta of 1.28. MGIC Investment Co. has a 12 month low of $16.32 and a 12 month high of $26.52. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $25.07 and a 200-day moving average price of $22.74.
MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.15. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The business had revenue of $305.28 million for the quarter, compared to analysts' expectations of $301.02 million. During the same quarter last year, the company earned $0.68 EPS. The business's revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that MGIC Investment Co. will post 2.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from MGIC Investment's previous quarterly dividend of $0.12. MGIC Investment's dividend payout ratio is currently 20.00%.
Several equities analysts recently issued reports on MTG shares. Roth Mkm boosted their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. BTIG Research boosted their price objective on shares of MGIC Investment from $22.00 to $25.00 and gave the company a "buy" rating in a report on Monday, August 5th. Finally, Barclays upped their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, MGIC Investment presently has an average rating of "Moderate Buy" and a consensus price target of $24.50.
Get Our Latest Analysis on MTG
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.
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