JPMorgan Chase & Co. decreased its holdings in shares of MGIC Investment Co. (NYSE:MTG – Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,831,146 shares of the insurance provider’s stock after selling 113,723 shares during the period. JPMorgan Chase & Co. owned approximately 5.35% of MGIC Investment worth $247,532,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in shares of MGIC Investment during the 1st quarter valued at about $26,000. Industrial Alliance Investment Management Inc. boosted its holdings in shares of MGIC Investment by 374.0% in the fourth quarter. Industrial Alliance Investment Management Inc. now owns 3,925 shares of the insurance provider’s stock worth $51,000 after buying an additional 3,097 shares during the period. Spotlight Asset Group Inc. purchased a new position in shares of MGIC Investment in the second quarter worth approximately $77,000. Bessemer Group Inc. increased its position in shares of MGIC Investment by 26.4% in the second quarter. Bessemer Group Inc. now owns 5,914 shares of the insurance provider’s stock worth $94,000 after acquiring an additional 1,237 shares in the last quarter. Finally, Impact Partnership Wealth LLC purchased a new position in shares of MGIC Investment in the third quarter worth approximately $121,000. Institutional investors own 93.41% of the company’s stock.
MGIC Investment Stock Performance
Shares of MTG opened at $19.75 on Friday. The company’s 50 day moving average price is $19.49 and its 200 day moving average price is $18.25. MGIC Investment Co. has a 52 week low of $12.15 and a 52 week high of $20.28. The company has a market capitalization of $5.33 billion, a PE ratio of 7.93, a PEG ratio of 1.63 and a beta of 1.23. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98.
MGIC Investment (NYSE:MTG – Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $284.72 million for the quarter, compared to the consensus estimate of $302.96 million. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. Research analysts expect that MGIC Investment Co. will post 2.43 EPS for the current fiscal year.
MGIC Investment Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Thursday, February 15th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, February 14th. MGIC Investment’s dividend payout ratio (DPR) is presently 18.47%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on MTG shares. Roth Mkm lifted their target price on shares of MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada lifted their target price on shares of MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. UBS Group started coverage on shares of MGIC Investment in a research report on Wednesday, December 6th. They issued a “neutral” rating and a $18.50 target price on the stock. Finally, Barclays initiated coverage on shares of MGIC Investment in a research report on Wednesday, November 15th. They issued an “equal weight” rating and a $19.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.50.
Get Our Latest Report on MGIC Investment
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.
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