Quest Partners LLC Buys 109,751 Shares of MGIC Investment Co. (NYSE:MTG)

Quest Partners LLC increased its position in shares of MGIC Investment Co. (NYSE:MTG) by 1,210.4% during the 3rd quarter, Holdings Channel reports. The fund owned 118,818 shares of the insurance provider’s stock after buying an additional 109,751 shares during the quarter. Quest Partners LLC’s holdings in MGIC Investment were worth $3,042,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in MGIC Investment by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider’s stock worth $326,375,000 after purchasing an additional 556,859 shares during the period. Clearbridge Investments LLC increased its position in shares of MGIC Investment by 2.4% in the 1st quarter. Clearbridge Investments LLC now owns 6,008,042 shares of the insurance provider’s stock valued at $134,340,000 after buying an additional 139,562 shares in the last quarter. American Century Companies Inc. raised its stake in MGIC Investment by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider’s stock worth $73,167,000 after buying an additional 50,307 shares during the period. Los Angeles Capital Management LLC lifted its holdings in MGIC Investment by 0.3% during the second quarter. Los Angeles Capital Management LLC now owns 1,438,727 shares of the insurance provider’s stock worth $31,005,000 after acquiring an additional 4,602 shares in the last quarter. Finally, Vest Financial LLC grew its stake in MGIC Investment by 3.7% in the third quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider’s stock valued at $28,499,000 after acquiring an additional 39,502 shares during the period. Institutional investors own 95.58% of the company’s stock.

Analysts Set New Price Targets

MTG has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. BTIG Research raised their target price on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Barclays upped their price target 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. Finally, Roth Mkm raised their price objective on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, MGIC Investment currently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

MGIC Investment Price Performance

Shares of MTG opened at $24.91 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a twelve month low of $17.25 and a twelve month high of $26.52. The stock has a market capitalization of $6.31 billion, a P/E ratio of 8.77, a P/E/G ratio of 1.81 and a beta of 1.28. The company has a 50 day moving average of $25.18 and a 200-day moving average of $23.39.

MGIC Investment (NYSE:MTG) last announced 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 net margin of 64.09% and a return on equity of 14.99%. The business had revenue of $306.65 million during the quarter, compared to analysts’ expectations of $306.03 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that MGIC Investment Co. will post 2.81 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, November 7th. MGIC Investment’s dividend payout ratio 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.