denkapparat Operations GmbH Takes $213,000 Position in MGIC Investment Co. (NYSE:MTG)

denkapparat Operations GmbH purchased a new position in MGIC Investment Co. (NYSE:MTG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,998 shares of the insurance provider’s stock, valued at approximately $213,000.

A number of other large investors also recently modified their holdings of MTG. Norges Bank bought a new position in MGIC Investment in the 4th quarter valued at $85,908,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in MGIC Investment during the third quarter valued at $13,535,000. Allianz Asset Management GmbH grew its position in MGIC Investment by 8.2% during the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider’s stock worth $130,289,000 after buying an additional 415,586 shares in the last quarter. Amundi bought a new position in MGIC Investment in the 4th quarter worth about $8,914,000. Finally, Vest Financial LLC raised its holdings in shares of MGIC Investment by 33.4% in the 4th quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider’s stock valued at $35,213,000 after acquiring an additional 371,882 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MTG has been the subject of several recent analyst reports. Barclays boosted their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods lowered their price objective on shares of 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. Compass Point reiterated 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. Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Finally, UBS Group increased their price objective on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, MGIC Investment presently has an average rating of “Hold” and a consensus price target of $26.75.

MGIC Investment Stock Performance

NYSE:MTG opened at $24.41 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56. The business has a 50 day moving average price of $24.34 and a 200-day moving average price of $24.67. The firm has a market cap of $5.92 billion, a PE ratio of 8.42 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Equities research analysts predict that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were given a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.13%. MGIC Investment’s dividend payout ratio is currently 17.93%.

Insider Activity

In related news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction on Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now 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 legal filing with the SEC, which is available at this link. Insiders own 1.05% of the company’s stock.

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.