MGIC Investment Co. (NYSE:MTG) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its position in shares of MGIC Investment Co. (NYSE:MTG) by 259.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,105,399 shares of the insurance provider’s stock after buying an additional 797,852 shares during the period. BNP Paribas Financial Markets owned 0.44% of MGIC Investment worth $26,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in MGIC Investment by 131.9% in the 4th 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 grew its holdings in shares of 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 buying an additional 918 shares during the last quarter. V Square Quantitative Management LLC increased its position in MGIC Investment by 61.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 794 shares during the period. Physician Wealth Advisors Inc. purchased a new stake in MGIC Investment during the 4th quarter valued at approximately $54,000. Finally, EverSource Wealth Advisors LLC lifted its position in MGIC Investment by 21.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 419 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Insider Activity

In related news, CAO Julie K. Sperber sold 4,600 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the transaction, the chief accounting officer now owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group upped their price target on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Compass Point reaffirmed a “neutral” rating and issued a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Barclays increased their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods lowered their price objective on MGIC Investment from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.50.

MGIC Investment Trading Up 0.2 %

Shares of MTG stock opened at $26.26 on Friday. The stock has a market cap of $6.23 billion, a P/E ratio of 9.05 and a beta of 0.91. 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 Co. has a fifty-two week low of $20.11 and a fifty-two week high of $26.59. The business has a fifty day simple moving average of $24.09 and a 200-day simple moving average of $24.45.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, April 30th. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.09. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. The company had revenue of $306.23 million for the quarter, compared to the consensus estimate of $306.66 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 24th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

MGIC Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Thursday, May 8th will be given a $0.13 dividend. The ex-dividend date is Thursday, May 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.98%. MGIC Investment’s dividend payout ratio is currently 17.28%.

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.