MGIC Investment Co. (NYSE:MTG) Stock Position Raised by Barclays PLC

Barclays PLC boosted its holdings in MGIC Investment Co. (NYSE:MTG) by 123.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,023,175 shares of the insurance provider’s stock after acquiring an additional 565,469 shares during the period. Barclays PLC owned about 0.40% of MGIC Investment worth $24,260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Franklin Resources Inc. boosted its position in 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 purchasing an additional 98,369 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of MGIC Investment by 13.4% during the fourth quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider’s stock valued at $2,174,000 after acquiring an additional 10,864 shares during the period. Janney Montgomery Scott LLC grew its position in shares of MGIC Investment by 33.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 40,398 shares of the insurance provider’s stock worth $958,000 after acquiring an additional 10,130 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of MGIC Investment by 311.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 66,493 shares of the insurance provider’s stock worth $1,575,000 after acquiring an additional 50,316 shares during the period. Finally, Empowered Funds LLC bought a new stake in MGIC Investment in the 4th quarter valued at about $1,166,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Stock Up 0.8 %

Shares of MTG stock opened at $24.03 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The stock has a market cap of $5.83 billion, a PE ratio of 8.28 and a beta of 0.93. The business’s fifty day moving average is $23.90 and its 200-day moving average is $24.50. MGIC Investment Co. has a 1 year low of $19.81 and a 1 year high of $26.56.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, topping 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%. Equities analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

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

Insiders Place Their Bets

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction 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 trade represents a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MTG has been the subject of several recent analyst reports. UBS Group upped their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Compass Point reissued a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Barclays lifted their target price on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.50.

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.