Quest Partners LLC Has $3.04 Million Stake in MGIC Investment Co. (NYSE:MTG)

Quest Partners LLC boosted its stake in shares of MGIC Investment Co. (NYSE:MTG) by 1,210.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,818 shares of the insurance provider’s stock after acquiring an additional 109,751 shares during the quarter. Quest Partners LLC’s holdings in MGIC Investment were worth $3,042,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in shares of MGIC Investment by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider’s stock worth $326,375,000 after purchasing an additional 556,859 shares during the last quarter. Clearbridge Investments LLC grew its stake in MGIC Investment by 2.4% during the first quarter. Clearbridge Investments LLC now owns 6,008,042 shares of the insurance provider’s stock worth $134,340,000 after buying an additional 139,562 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of MGIC Investment by 1.5% during the second quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider’s stock worth $73,167,000 after buying an additional 50,307 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of MGIC Investment by 0.3% in the second quarter. Los Angeles Capital Management LLC now owns 1,438,727 shares of the insurance provider’s stock valued at $31,005,000 after acquiring an additional 4,602 shares during the last quarter. Finally, Vest Financial LLC boosted its holdings in shares of MGIC Investment by 3.7% in the 3rd quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider’s stock worth $28,499,000 after acquiring an additional 39,502 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. BTIG Research raised their price target on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 5th. Roth Mkm raised their target price on MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada reduced their price target on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Finally, Barclays raised their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, MGIC Investment currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

MGIC Investment Trading Up 1.3 %

Shares of MTG opened at $24.91 on Monday. The stock’s fifty day simple moving average is $25.18 and its 200-day simple moving average is $23.39. The firm has a market capitalization of $6.31 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. MGIC Investment Co. has a 12-month low of $17.25 and a 12-month high of $26.52. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last released its earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The company had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. During the same period in the prior year, the company posted $0.64 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts predict that MGIC Investment Co. will post 2.81 earnings per share for the current year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 2.09%. MGIC Investment’s payout ratio is presently 18.31%.

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.