William Blair Investment Management LLC Acquires 32,980 Shares of MGIC Investment Co. (NYSE:MTG)

William Blair Investment Management LLC raised its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,364,725 shares of the insurance provider’s stock after purchasing an additional 32,980 shares during the quarter. William Blair Investment Management LLC’s holdings in MGIC Investment were worth $32,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTG. UMB Bank n.a. increased its stake in MGIC Investment by 131.9% during 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 in the last quarter. Venturi Wealth Management LLC increased its stake in MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 918 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of 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 worth $49,000 after acquiring an additional 794 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake 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 acquiring an additional 419 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of MGIC Investment in the 3rd quarter worth $69,000. Institutional investors own 95.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MTG. Compass Point reiterated a “neutral” rating and issued a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Barclays upped their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. UBS Group upped their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods reduced their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.75.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the sale, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.05% of the company’s stock.

MGIC Investment Price Performance

Shares of NYSE:MTG opened at $23.18 on Wednesday. The company’s 50-day moving average is $24.28 and its 200 day moving average is $24.72. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The company has a market capitalization of $5.63 billion, a P/E ratio of 7.99 and a beta of 1.28. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56.

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

MGIC Investment Announces Dividend

The firm also recently disclosed 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. This represents a $0.52 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

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.