MGIC Investment Co. (NYSE:MTG) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its stake in shares of MGIC Investment Co. (NYSE:MTG) by 395.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 150,637 shares of the insurance provider’s stock after purchasing an additional 120,257 shares during the period. Sanctuary Advisors LLC’s holdings in MGIC Investment were worth $3,841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MTG. Dimensional Fund Advisors LP raised its stake in shares of MGIC Investment by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider’s stock valued at $326,375,000 after purchasing an additional 556,859 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new stake in MGIC Investment during the 3rd quarter valued at $13,535,000. WINTON GROUP Ltd increased its stake in MGIC Investment by 440.3% during the 2nd quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider’s stock worth $11,228,000 after buying an additional 424,580 shares during the period. Vest Financial LLC lifted its holdings in MGIC Investment by 22.7% in the 2nd quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider’s stock worth $23,139,000 after buying an additional 198,553 shares in the last quarter. Finally, Barclays PLC boosted its position in MGIC Investment by 75.1% in the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider’s stock valued at $11,716,000 after buying an additional 196,252 shares during the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

Shares of MTG opened at $24.70 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 1.77 and a beta of 1.27. MGIC Investment Co. has a 52 week low of $18.68 and a 52 week high of $26.56. The stock has a 50 day moving average of $25.21 and a 200-day moving average of $24.08.

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

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.52 annualized dividend and a yield of 2.11%. MGIC Investment’s dividend payout ratio (DPR) is 18.31%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MTG shares. Barclays lifted their target price on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and cut their target price for the company from $26.00 to $25.00 in a research report on Monday, December 9th. Royal Bank of Canada reduced their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $29.00 price target on shares of MGIC Investment in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.00.

MGIC Investment 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.