MGIC Investment Co. (NYSE:MTG) Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its position in MGIC Investment Co. (NYSE:MTG) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,837,821 shares of the insurance provider’s stock after acquiring an additional 190,450 shares during the quarter. MGIC Investment accounts for about 0.8% of NewEdge Wealth LLC’s holdings, making the stock its 26th biggest holding. NewEdge Wealth LLC owned 0.73% of MGIC Investment worth $43,575,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Hara Capital LLC purchased a new position in shares of MGIC Investment in the 3rd quarter valued at about $25,000. UMB Bank n.a. increased its stake in MGIC Investment by 131.9% in the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 938 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 918 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of MGIC Investment by 61.9% during the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock worth $49,000 after buying an additional 794 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of MGIC Investment in the 3rd quarter valued at $69,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.05% of the stock is currently owned by insiders.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $24.11 on Thursday. The stock has a fifty day moving average price of $24.33 and a 200 day moving average price of $24.80. MGIC Investment Co. has a 1-year low of $19.22 and a 1-year high of $26.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The company has a market cap of $6.11 billion, a PE ratio of 8.31 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last released its 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%. Sell-side analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s dividend payout ratio is presently 17.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price target on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Compass Point reissued a “neutral” rating and issued a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods cut their price target on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. UBS Group increased their price objective on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and cut their target price for the company from $26.00 to $25.00 in a report on Monday, December 9th. One investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.75.

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.