Measured Wealth Private Client Group LLC Raises Stock Position in MGIC Investment Co. (NYSE:MTG)

Measured Wealth Private Client Group LLC lifted its stake in shares of MGIC Investment Co. (NYSE:MTG) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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.

A number of other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC purchased a new position in MGIC Investment during the fourth quarter valued at approximately $30,000. Blue Trust Inc. increased its holdings in MGIC Investment by 49.2% during the fourth quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock valued at $50,000 after buying an additional 849 shares during the period. Planned Solutions Inc. purchased a new position in MGIC Investment during the fourth quarter valued at approximately $66,000. USA Financial Formulas purchased a new position in MGIC Investment during the third quarter valued at approximately $100,000. Finally, Janiczek Wealth Management LLC increased its holdings in MGIC Investment by 29.5% during the fourth quarter. Janiczek Wealth Management LLC now owns 5,572 shares of the insurance provider’s stock valued at $107,000 after buying an additional 1,269 shares during the period. 95.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Stock Up 0.6 %

MTG traded up $0.13 during trading on Friday, hitting $20.64. The stock had a trading volume of 2,072,463 shares, compared to its average volume of 1,894,780. MGIC Investment Co. has a twelve month low of $13.97 and a twelve month high of $22.43. The stock has a 50 day simple moving average of $20.55 and a two-hundred day simple moving average of $19.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 1.05. The company has a market capitalization of $5.50 billion, a PE ratio of 7.94, a PEG ratio of 1.69 and a beta of 1.24.

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

MGIC Investment Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

About MGIC Investment

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.