O Shaughnessy Asset Management LLC Grows Position in MGIC Investment Co. (NYSE:MTG)

O Shaughnessy Asset Management LLC raised its holdings in MGIC Investment Co. (NYSE:MTG) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,186 shares of the insurance provider’s stock after purchasing an additional 13,402 shares during the period. O Shaughnessy Asset Management LLC owned 0.06% of MGIC Investment worth $3,727,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MTG. UMB Bank n.a. lifted its position in shares of MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 938 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings 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 worth $43,000 after purchasing an additional 918 shares in the last quarter. V Square Quantitative Management LLC boosted its stake 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 worth $49,000 after purchasing an additional 794 shares during the period. Physician Wealth Advisors Inc. bought a new stake in shares of MGIC Investment during the fourth quarter valued at about $54,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of MGIC Investment by 21.9% in the fourth 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 in the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Performance

Shares of NYSE MTG opened at $25.56 on Thursday. The stock’s 50-day moving average is $24.38 and its 200 day moving average is $24.68. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 8.81 and a beta of 1.28. MGIC Investment Co. has a 1-year low of $19.26 and a 1-year high of $26.56. 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 (NYSE:MTG) last posted its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS 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%. On average, sell-side analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s dividend payout ratio is presently 17.93%.

Insider Buying and Selling at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at $1,842,968.50. This represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Compass Point reaffirmed a “neutral” rating and set a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Barclays upped 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. Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $26.00 to $25.00 in a research note on Monday, December 9th. UBS Group upped their target price on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods dropped their price target 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, MGIC Investment currently has a consensus rating of “Hold” and an average target price of $26.75.

About MGIC Investment

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.