Inceptionr LLC Acquires Shares of 17,664 MGIC Investment Co. (NYSE:MTG)

Inceptionr LLC bought a new position in shares of MGIC Investment Co. (NYSE:MTG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,664 shares of the insurance provider’s stock, valued at approximately $341,000.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new position in MGIC Investment in the fourth quarter valued at about $30,000. Pacific Capital Wealth Advisors Inc. acquired a new position in MGIC Investment during the 4th quarter worth approximately $31,000. Blue Trust Inc. lifted its position in shares of MGIC Investment by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 849 shares in the last quarter. Planned Solutions Inc. acquired a new position in MGIC Investment during the fourth quarter worth $66,000. Finally, USA Financial Formulas bought a new position in MGIC Investment in the third quarter valued at $100,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analysts Set New Price Targets

MTG has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $24.00 price objective (up from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Royal Bank of Canada raised their price objective on shares of MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, Roth Mkm upped their target price on MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, MGIC Investment has a consensus rating of “Hold” and an average target price of $21.08.

MGIC Investment Price Performance

MGIC Investment stock traded up $0.14 during mid-day trading on Thursday, reaching $21.20. 338,288 shares of the company were exchanged, compared to its average volume of 1,996,641. The firm has a market cap of $5.65 billion, a PE ratio of 8.13, a PEG ratio of 1.70 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.05 and a quick ratio of 1.05. The company has a fifty day simple moving average of $20.80 and a 200-day simple moving average of $19.49. MGIC Investment Co. has a 12 month low of $14.73 and a 12 month high of $22.43.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. The firm had revenue of $294.40 million for the quarter, compared to the consensus estimate of $301.62 million. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. As a group, equities research analysts expect that MGIC Investment Co. will post 2.48 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Thursday, May 9th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.46 annualized dividend and a yield of 2.17%. MGIC Investment’s dividend payout ratio is currently 17.69%.

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.