DGS Capital Management LLC Buys 4,974 Shares of MGIC Investment Co. (NYSE:MTG)

DGS Capital Management LLC grew its position in shares of MGIC Investment Co. (NYSE:MTG) by 6.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,797 shares of the insurance provider’s stock after buying an additional 4,974 shares during the period. MGIC Investment accounts for 0.6% of DGS Capital Management LLC’s investment portfolio, making the stock its 26th largest position. DGS Capital Management LLC’s holdings in MGIC Investment were worth $2,196,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MTG. State of Alaska Department of Revenue increased its stake in shares of MGIC Investment by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock worth $3,858,000 after purchasing an additional 540 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in MGIC Investment by 1.6% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 35,306 shares of the insurance provider’s stock valued at $761,000 after buying an additional 565 shares in the last quarter. Lindenwold Advisors INC raised its holdings in MGIC Investment by 3.7% during the 3rd quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider’s stock valued at $425,000 after acquiring an additional 592 shares during the period. Fortem Financial Group LLC lifted its position in shares of MGIC Investment by 1.0% during the second 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 in the last quarter. Finally, Financial Strategies Group Inc. boosted its holdings in shares of MGIC Investment by 9.2% in the third quarter. Financial Strategies Group Inc. now owns 11,440 shares of the insurance provider’s stock worth $295,000 after acquiring an additional 966 shares during the period. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

Shares of MTG stock traded down $0.18 during trading on Friday, hitting $24.68. The company had a trading volume of 93,783 shares, compared to its average volume of 1,725,127. The stock’s 50-day moving average is $25.25 and its two-hundred day moving average is $23.97. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. 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 52 week low of $18.68 and a 52 week high of $26.56.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, beating 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 firm had revenue of $306.65 million for the quarter, compared to analysts’ expectations of $306.03 million. During the same quarter last year, the company posted $0.64 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, analysts predict that MGIC Investment Co. will post 2.85 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.11%. The ex-dividend date was Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is currently 18.31%.

Analyst Upgrades and Downgrades

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