Bridgewater Associates LP Purchases 1,110 Shares of MGIC Investment Co. (NYSE:MTG)

Bridgewater Associates LP lifted its position in shares of MGIC Investment Co. (NYSE:MTG) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,352 shares of the insurance provider’s stock after purchasing an additional 1,110 shares during the period. Bridgewater Associates LP’s holdings in MGIC Investment were worth $743,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its position in MGIC Investment by 21.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock valued at $55,000 after buying an additional 419 shares in the last quarter. Xponance Inc. grew its stake in shares of MGIC Investment by 1.3% in the fourth quarter. Xponance Inc. now owns 35,320 shares of the insurance provider’s stock worth $837,000 after acquiring an additional 442 shares during the last quarter. Nations Financial Group Inc. IA ADV increased 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 acquiring an additional 579 shares in the last quarter. US Bancorp DE raised its position in shares of MGIC Investment by 6.2% in the 4th quarter. US Bancorp DE now owns 10,249 shares of the insurance provider’s stock worth $243,000 after purchasing an additional 600 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in MGIC Investment by 6.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider’s stock worth $248,000 after purchasing an additional 608 shares in the last quarter. 95.58% of the stock is owned by institutional investors.

MGIC Investment Trading Up 0.8 %

Shares of NYSE:MTG opened at $24.03 on Friday. The stock’s 50-day simple moving average is $23.90 and its two-hundred day simple moving average is $24.50. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 8.28 and a beta of 0.93. MGIC Investment Co. has a 52-week low of $19.81 and a 52-week high of $26.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48.

MGIC Investment (NYSE:MTG) last announced its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Analysts expect that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.16%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Analysts Set New Price Targets

MTG has been the subject of a number of analyst reports. UBS Group raised their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Compass Point reissued a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Barclays upped their price objective on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods decreased their price target on MGIC Investment from $28.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.50.

Insiders Place Their Bets

In other news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.41% of the company’s stock.

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.