Bank of New Hampshire Cuts Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Bank of New Hampshire reduced its position in MGIC Investment Co. (NYSE:MTG) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 87,527 shares of the insurance provider’s stock after selling 5,857 shares during the period. Bank of New Hampshire’s holdings in MGIC Investment were worth $2,075,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MTG. Fortem Financial Group LLC raised its stake in shares of MGIC Investment by 3.2% in the fourth quarter. Fortem Financial Group LLC now owns 66,203 shares of the insurance provider’s stock worth $1,570,000 after purchasing an additional 2,054 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in MGIC Investment by 25.0% in the 4th quarter. CWA Asset Management Group LLC now owns 35,304 shares of the insurance provider’s stock worth $837,000 after buying an additional 7,068 shares in the last quarter. Nordea Investment Management AB raised its position in MGIC Investment by 4.5% in the 4th quarter. Nordea Investment Management AB now owns 424,767 shares of the insurance provider’s stock worth $10,114,000 after buying an additional 18,399 shares during the last quarter. DGS Capital Management LLC lifted its stake in MGIC Investment by 6.2% during the 3rd quarter. DGS Capital Management LLC now owns 85,797 shares of the insurance provider’s stock valued at $2,196,000 after acquiring an additional 4,974 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of MGIC Investment by 6.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after acquiring an additional 98,369 shares during the last quarter. 95.58% of the stock is owned by institutional investors.

MGIC Investment Stock Performance

Shares of NYSE:MTG traded up $0.22 during midday trading on Tuesday, hitting $23.65. The company had a trading volume of 63,845 shares, compared to its average volume of 1,171,193. MGIC Investment Co. has a 12-month low of $18.68 and a 12-month high of $26.56. The company has a fifty day moving average of $24.65 and a two-hundred day moving average of $24.37. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 1.75 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $306.03 million. During the same quarter in the prior year, the business posted $0.64 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities research analysts expect 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. Shareholders of record on Thursday, November 7th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, November 7th. MGIC Investment’s payout ratio is 18.31%.

Wall Street Analyst Weigh In

MTG has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price objective on shares of 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. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price target for the company from $26.00 to $25.00 in a report on Monday, December 9th. Barclays lifted their price objective on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $29.00 target price on shares of MGIC Investment in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, MGIC Investment presently has a consensus rating of “Hold” and an average target price of $26.00.

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.