EP Wealth Advisors LLC purchased a new stake in shares of MGIC Investment Co. (NYSE:MTG – Free Report) in the third quarter, HoldingsChannel reports. The institutional investor purchased 45,001 shares of the insurance provider’s stock, valued at approximately $1,152,000.
A number of other large investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in shares of MGIC Investment by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider’s stock valued at $326,375,000 after acquiring an additional 556,859 shares during the last quarter. State Street Corp raised its holdings in shares of MGIC Investment by 0.8% during the 3rd quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock valued at $232,767,000 after buying an additional 73,851 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of MGIC Investment by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider’s stock valued at $73,167,000 after buying an additional 50,307 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of MGIC Investment by 0.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,438,727 shares of the insurance provider’s stock valued at $31,005,000 after buying an additional 4,602 shares in the last quarter. Finally, Vest Financial LLC raised its holdings in shares of MGIC Investment by 3.7% during the 3rd quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider’s stock valued at $28,499,000 after buying an additional 39,502 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.
MGIC Investment Price Performance
MTG opened at $24.57 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. MGIC Investment Co. has a 52-week low of $18.04 and a 52-week high of $26.56. The stock has a market capitalization of $6.23 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 1.82 and a beta of 1.27. The stock’s 50 day moving average price is $25.28 and its 200-day moving average price is $23.93.
MGIC Investment Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 2.12%. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on MTG shares. Barclays raised their price objective on MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Royal Bank of Canada decreased their price objective on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price target on shares of MGIC Investment in a research note on Tuesday. Finally, Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $26.00 to $25.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $26.00.
Check Out Our Latest Stock Analysis on MTG
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.
Featured Stories
- Five stocks we like better than MGIC Investment
- What is a SEC Filing?
- Survey Reveals: Which States Saw the Biggest Investment Gains in 2024?
- Using the MarketBeat Dividend Tax Calculator
- Amazon’s Healthcare Gamble: A New Era of Medical Disruption
- What Are Dividend Challengers?
- Semiconductor Giant Synopsys Slides 14% — Time to Take Notice
Want to see what other hedge funds are holding MTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGIC Investment Co. (NYSE:MTG – Free Report).
Receive News & Ratings for MGIC Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment and related companies with MarketBeat.com's FREE daily email newsletter.