Los Angeles Capital Management LLC Has $34.36 Million Position in MGIC Investment Co. (NYSE:MTG)

Los Angeles Capital Management LLC increased its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,781,278 shares of the insurance provider’s stock after purchasing an additional 57,853 shares during the period. Los Angeles Capital Management LLC owned approximately 0.64% of MGIC Investment worth $34,361,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MTG. Invesco Ltd. boosted its position in MGIC Investment by 47.3% during the 3rd quarter. Invesco Ltd. now owns 3,174,560 shares of the insurance provider’s stock worth $52,983,000 after acquiring an additional 1,019,759 shares during the last quarter. AQR Capital Management LLC grew its position in MGIC Investment by 30.3% in the third quarter. AQR Capital Management LLC now owns 4,233,477 shares of the insurance provider’s stock valued at $70,657,000 after purchasing an additional 985,512 shares in the last quarter. LSV Asset Management increased its stake in MGIC Investment by 8.5% in the 3rd quarter. LSV Asset Management now owns 10,427,565 shares of the insurance provider’s stock valued at $174,036,000 after buying an additional 820,182 shares during the last quarter. FMR LLC lifted its position in MGIC Investment by 26.7% during the 3rd quarter. FMR LLC now owns 3,829,710 shares of the insurance provider’s stock worth $63,918,000 after buying an additional 807,637 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of MGIC Investment by 302.3% during the 3rd quarter. Acadian Asset Management LLC now owns 661,778 shares of the insurance provider’s stock worth $11,034,000 after buying an additional 497,261 shares during the last quarter. 95.58% of the stock is owned by institutional investors.

MGIC Investment Price Performance

NYSE:MTG traded up $0.14 during mid-day trading on Friday, reaching $20.65. The stock had a trading volume of 2,072,463 shares, compared to its average volume of 2,053,955. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. MGIC Investment Co. has a 12 month low of $13.97 and a 12 month high of $22.43. The stock has a market capitalization of $5.57 billion, a PE ratio of 7.94, a P/E/G ratio of 1.69 and a beta of 1.24. The stock has a 50-day simple moving average of $20.55 and a two-hundred day simple moving average of $19.21.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. The firm had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $301.62 million. MGIC Investment had a net margin of 62.85% and a return on equity of 15.13%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 EPS. On average, equities analysts anticipate that MGIC Investment Co. will post 2.43 earnings per share for the current year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Thursday, May 9th will be paid 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 2.23%. MGIC Investment’s dividend payout ratio is currently 17.69%.

Analyst Upgrades and Downgrades

MTG has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $24.00 price objective (up previously from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Roth Mkm lifted their price target on MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada upped their price objective on 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $21.08.

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.