Allianz Asset Management GmbH Has $130.29 Million Stake in MGIC Investment Co. (NYSE:MTG)

Allianz Asset Management GmbH lifted its stake in MGIC Investment Co. (NYSE:MTG) by 8.2% during the fourth quarter, Holdings Channel reports. The fund owned 5,495,115 shares of the insurance provider’s stock after acquiring an additional 415,586 shares during the quarter. Allianz Asset Management GmbH’s holdings in MGIC Investment were worth $130,289,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in MGIC Investment by 0.8% during the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock valued at $232,767,000 after purchasing an additional 73,851 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of MGIC Investment by 6.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock worth $41,836,000 after buying an additional 98,369 shares during the period. Vest Financial LLC grew its stake in MGIC Investment by 33.4% in the 4th quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider’s stock valued at $35,213,000 after buying an additional 371,882 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in MGIC Investment by 1.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 807,485 shares of the insurance provider’s stock worth $19,145,000 after acquiring an additional 9,031 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in MGIC Investment in the 3rd quarter worth $13,535,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Trading Down 0.5 %

Shares of MGIC Investment stock opened at $24.44 on Friday. The company’s fifty day simple moving average is $24.36 and its 200-day simple moving average is $24.78. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 8.43 and a beta of 1.29. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a 1 year low of $18.98 and a 1 year high of $26.56.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 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%. As a group, sell-side analysts expect that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently announced 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 of this dividend is Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.13%. MGIC Investment’s payout ratio is 17.93%.

Analyst Ratings Changes

A number of research firms have issued reports on MTG. Compass Point restated a “neutral” rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Royal Bank of Canada decreased their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. UBS Group lifted their price target on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday. Keefe, Bruyette & Woods reduced their price objective on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. Finally, Barclays raised their price objective 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. 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.