A&I Financial Services LLC Makes New $454,000 Investment in MGIC Investment Co. (NYSE:MTG)

A&I Financial Services LLC bought a new stake in shares of MGIC Investment Co. (NYSE:MTG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,160 shares of the insurance provider’s stock, valued at approximately $454,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTG. State of Alaska Department of Revenue lifted its position in MGIC Investment by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock valued at $3,858,000 after acquiring an additional 540 shares during the period. Nations Financial Group Inc. IA ADV lifted its holdings in shares of MGIC Investment by 1.6% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider’s stock valued at $897,000 after purchasing an additional 579 shares during the last quarter. Lindenwold Advisors INC boosted its position in shares of MGIC Investment by 3.7% in the 3rd quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider’s stock worth $425,000 after purchasing an additional 592 shares in the last quarter. Inspire Investing LLC boosted its position in shares of MGIC Investment by 4.8% in the 4th quarter. Inspire Investing LLC now owns 16,883 shares of the insurance provider’s stock worth $400,000 after purchasing an additional 766 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of MGIC Investment by 61.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock worth $49,000 after buying an additional 794 shares during the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Stock Performance

Shares of MTG stock opened at $24.24 on Friday. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average price of $24.35 and a 200-day moving average price of $24.80. MGIC Investment Co. has a 52 week low of $19.26 and a 52 week high of $26.56. The firm has a market capitalization of $6.14 billion, a PE ratio of 8.36 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last announced its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share 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%. As a group, equities research analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be given a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.15%. MGIC Investment’s payout ratio is 17.93%.

Insider Buying and Selling at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $24.55, for a total value 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. This represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.05% of the company’s stock.

Wall Street Analyst Weigh In

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

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.