Vest Financial LLC Has $35.21 Million Holdings in MGIC Investment Co. (NYSE:MTG)

Vest Financial LLC boosted its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 33.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,485,140 shares of the insurance provider’s stock after buying an additional 371,882 shares during the period. Vest Financial LLC’s holdings in MGIC Investment were worth $35,213,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State of Alaska Department of Revenue lifted its holdings in shares of MGIC Investment by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock valued at $3,858,000 after acquiring an additional 540 shares during the period. Lindenwold Advisors INC raised its stake in shares of MGIC Investment by 3.7% during the third quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider’s stock worth $425,000 after buying an additional 592 shares during the last quarter. Inspire Investing LLC lifted its holdings in MGIC Investment by 4.8% in the fourth quarter. Inspire Investing LLC now owns 16,883 shares of the insurance provider’s stock valued at $400,000 after buying an additional 766 shares during the period. UMB Bank n.a. boosted 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 acquiring an additional 938 shares during the last quarter. Finally, Financial Strategies Group Inc. grew its stake in shares of MGIC Investment by 9.2% during the third quarter. Financial Strategies Group Inc. now owns 11,440 shares of the insurance provider’s stock worth $295,000 after purchasing an additional 966 shares during the period. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $25.30 on Friday. MGIC Investment Co. has a twelve month low of $18.68 and a twelve month high of $26.56. The company has a market cap of $6.41 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The business’s 50 day moving average price is $24.49 and its two-hundred day moving average price is $24.75. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating 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%. On average, analysts predict that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be paid a $0.13 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.06%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Analyst Ratings Changes

MTG has been the subject of a number of recent analyst reports. Compass Point reaffirmed a “neutral” rating and issued a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research note on Wednesday. Keefe, Bruyette & Woods cut their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada decreased 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 report on Wednesday, November 6th. Barclays lifted their target price on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price target for the stock 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 assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.25.

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.