Dimensional Fund Advisors LP Has $326.38 Million Holdings in MGIC Investment Co. (NYSE:MTG)

Dimensional Fund Advisors LP lifted its stake in shares of MGIC Investment Co. (NYSE:MTG) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,145,206 shares of the insurance provider’s stock after buying an additional 556,859 shares during the quarter. Dimensional Fund Advisors LP owned about 5.68% of MGIC Investment worth $326,375,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of MTG. WINTON GROUP Ltd raised its holdings in shares of MGIC Investment by 440.3% during the second quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider’s stock valued at $11,228,000 after purchasing an additional 424,580 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in MGIC Investment by 13.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 418,977 shares of the insurance provider’s stock worth $8,891,000 after acquiring an additional 49,924 shares in the last quarter. Nicholas Investment Partners LP raised its position in shares of MGIC Investment by 10.0% during the second quarter. Nicholas Investment Partners LP now owns 726,914 shares of the insurance provider’s stock worth $15,665,000 after purchasing an additional 66,027 shares during the period. Vest Financial LLC lifted its holdings in shares of MGIC Investment by 22.7% in the 2nd quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider’s stock worth $23,139,000 after purchasing an additional 198,553 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in 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 purchasing an additional 50,307 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Up 1.2 %

Shares of NYSE:MTG opened at $25.55 on Tuesday. MGIC Investment Co. has a 1 year low of $16.30 and a 1 year high of $25.93. The company has a market capitalization of $6.81 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28. The business has a fifty day moving average price of $24.10 and a two-hundred day moving average price of $22.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.11 and a quick ratio of 1.11.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.15. The company had revenue of $305.28 million during the quarter, compared to analyst estimates of $301.02 million. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. Analysts forecast that MGIC Investment Co. will post 2.76 earnings per share for the current year.

MGIC Investment Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, August 8th. This is a boost from MGIC Investment’s previous quarterly dividend of $0.12. MGIC Investment’s payout ratio is 20.00%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MTG. BTIG Research upped their target price on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods upgraded MGIC Investment from a “market perform” rating to an “outperform” rating and raised their target price for the company from $24.00 to $25.00 in a report on Monday, June 3rd. Barclays upped their price target on MGIC Investment from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Roth Mkm raised their price objective on MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, UBS Group upped their target price on shares of MGIC Investment from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $24.33.

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.