Integrated Quantitative Investments LLC Invests $797,000 in MGIC Investment Co. (NYSE:MTG)

Integrated Quantitative Investments LLC purchased a new stake in MGIC Investment Co. (NYSE:MTG) in the 4th quarter, HoldingsChannel reports. The fund purchased 33,600 shares of the insurance provider’s stock, valued at approximately $797,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTG. State Street Corp raised its stake in shares of MGIC Investment by 0.8% in the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock worth $232,767,000 after purchasing an additional 73,851 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in MGIC Investment by 8.2% during the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider’s stock valued at $130,289,000 after acquiring an additional 415,586 shares in the last quarter. Norges Bank purchased a new position in MGIC Investment during the 4th quarter worth $85,908,000. NewEdge Wealth LLC grew its stake in shares of MGIC Investment by 11.6% in the 4th quarter. NewEdge Wealth LLC now owns 1,837,821 shares of the insurance provider’s stock worth $43,575,000 after acquiring an additional 190,450 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of MGIC Investment by 1.6% in the fourth quarter. Franklin Resources Inc. now owns 1,647,936 shares of the insurance provider’s stock valued at $39,072,000 after purchasing an additional 26,098 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Down 5.1 %

MTG stock opened at $23.09 on Friday. The stock has a fifty day moving average of $24.33 and a 200-day moving average of $24.66. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 7.96 and a beta of 1.28. 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 (NYSE:MTG) last posted its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.25%. MGIC Investment’s dividend payout ratio is currently 17.93%.

Insider Transactions at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 75,070 shares in the company, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.