Elo Mutual Pension Insurance Co Acquires Shares of 23,679 MGIC Investment Co. (NYSE:MTG)

Elo Mutual Pension Insurance Co acquired a new position in shares of MGIC Investment Co. (NYSE:MTG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 23,679 shares of the insurance provider’s stock, valued at approximately $561,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. grew its position in shares of MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after buying an additional 938 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in MGIC Investment by 102.1% in the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 918 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of MGIC Investment by 61.9% during the fourth 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 last quarter. EverSource Wealth Advisors LLC increased its position in shares of MGIC Investment by 21.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 419 shares in the last quarter. Finally, Savant Capital LLC lifted its holdings in shares of MGIC Investment by 11.8% in the 4th quarter. Savant Capital LLC now owns 8,857 shares of the insurance provider’s stock valued at $210,000 after purchasing an additional 933 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MTG. 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, February 19th. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their price target for the company from $26.00 to $25.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods decreased their price target on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. Barclays lifted their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Compass Point reiterated a “neutral” rating and set a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, MGIC Investment has a consensus rating of “Hold” and a consensus target price of $26.75.

MGIC Investment Trading Down 1.7 %

Shares of MGIC Investment stock opened at $24.41 on Monday. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 8.42 and a beta of 1.28. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56. The company’s 50-day simple moving average is $24.34 and its 200-day simple moving average is $24.67.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping 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, equities research analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

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 was Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.13%. MGIC Investment’s payout ratio is currently 17.93%.

Insider Transactions at MGIC Investment

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

MGIC Investment 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.