Measured Wealth Private Client Group LLC Acquires 2,954 Shares of MGIC Investment Co. (NYSE:MTG)

Measured Wealth Private Client Group LLC boosted its holdings in MGIC Investment Co. (NYSE:MTG) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,671 shares of the insurance provider’s stock after acquiring an additional 2,954 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in MGIC Investment were worth $1,132,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vest Financial LLC increased its position in shares of MGIC Investment by 29.4% during the 4th quarter. Vest Financial LLC now owns 690,877 shares of the insurance provider’s stock valued at $13,327,000 after purchasing an additional 157,036 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of MGIC Investment by 335.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 103,129 shares of the insurance provider’s stock valued at $1,989,000 after purchasing an additional 79,457 shares during the last quarter. NewEdge Wealth LLC increased its position in shares of MGIC Investment by 8.8% during the 4th quarter. NewEdge Wealth LLC now owns 1,444,931 shares of the insurance provider’s stock valued at $27,873,000 after purchasing an additional 117,301 shares during the last quarter. Invesco Ltd. increased its position in shares of MGIC Investment by 47.3% during the 3rd quarter. Invesco Ltd. now owns 3,174,560 shares of the insurance provider’s stock valued at $52,983,000 after purchasing an additional 1,019,759 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of MGIC Investment by 8.5% during the 3rd quarter. LSV Asset Management now owns 10,427,565 shares of the insurance provider’s stock valued at $174,036,000 after purchasing an additional 820,182 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Roth Mkm increased their price objective on MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada raised their price target on 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, Keefe, Bruyette & Woods restated a “market perform” rating and set a $24.00 price target (up from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.08.

MGIC Investment Trading Up 0.6 %

NYSE MTG traded up $0.13 on Friday, hitting $20.64. The company’s stock had a trading volume of 2,072,463 shares, compared to its average volume of 1,894,780. MGIC Investment Co. has a 52-week low of $13.97 and a 52-week high of $22.43. The company has a current ratio of 1.05, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $20.55 and its 200 day simple moving average is $19.21. The firm has a market cap of $5.50 billion, a P/E ratio of 7.94, a PEG ratio of 1.69 and a beta of 1.24.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.05. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. The business had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $301.62 million. During the same quarter last year, the business posted $0.54 EPS. The business’s revenue was up 3.7% on a year-over-year basis. Research analysts predict that MGIC Investment Co. will post 2.43 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Thursday, May 9th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 2.23%. The ex-dividend date is Wednesday, May 8th. MGIC Investment’s dividend payout ratio (DPR) is currently 17.69%.

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.