denkapparat Operations GmbH Purchases New Shares in MGIC Investment Co. (NYSE:MTG)

denkapparat Operations GmbH acquired a new position in MGIC Investment Co. (NYSE:MTG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 8,998 shares of the insurance provider’s stock, valued at approximately $213,000.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in shares of MGIC Investment by 21.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock worth $55,000 after buying an additional 419 shares during the period. Xponance Inc. increased its stake in shares of MGIC Investment by 1.3% during the fourth quarter. Xponance Inc. now owns 35,320 shares of the insurance provider’s stock valued at $837,000 after purchasing an additional 442 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in shares of MGIC Investment by 1.6% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider’s stock valued at $897,000 after purchasing an additional 579 shares during the last quarter. US Bancorp DE boosted its position in shares of MGIC Investment by 6.2% in the 4th quarter. US Bancorp DE now owns 10,249 shares of the insurance provider’s stock worth $243,000 after purchasing an additional 600 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of MGIC Investment by 6.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider’s stock worth $248,000 after buying an additional 608 shares during the last quarter. 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 the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.05% of the company’s stock.

MGIC Investment Price Performance

NYSE MTG opened at $24.41 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. MGIC Investment Co. has a 1-year low of $19.26 and a 1-year high of $26.56. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 8.42 and a beta of 1.28. The business’s fifty day moving average price is $24.34 and its 200-day moving average price is $24.67.

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

MGIC Investment Announces Dividend

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

Analyst Ratings Changes

MTG has been the topic of a number of recent research reports. Barclays increased their target price on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $26.00 to $25.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods dropped 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 research note on Wednesday, January 8th. Compass Point reissued a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Finally, UBS Group upped 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MGIC Investment presently has a consensus rating of “Hold” and an average target price of $26.75.

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.