Larson Financial Group LLC Acquires 3,220 Shares of MGIC Investment Co. (NYSE:MTG)

Larson Financial Group LLC lifted its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 105,432 shares of the insurance provider’s stock after purchasing an additional 3,220 shares during the period. Larson Financial Group LLC’s holdings in MGIC Investment were worth $2,699,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in 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 acquiring an additional 556,859 shares during the last quarter. American Century Companies Inc. grew its holdings in MGIC Investment by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider’s stock worth $73,167,000 after acquiring an additional 50,307 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in MGIC Investment by 0.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,438,727 shares of the insurance provider’s stock worth $31,005,000 after acquiring an additional 4,602 shares during the last quarter. Vest Financial LLC grew its holdings in 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 during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in MGIC Investment by 2.9% in the 2nd quarter. Mackenzie Financial Corp now owns 879,674 shares of the insurance provider’s stock worth $18,957,000 after acquiring an additional 24,627 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Trading Up 2.1 %

Shares of NYSE MTG opened at $25.50 on Monday. MGIC Investment Co. has a 1 year low of $17.31 and a 1 year high of $26.52. The stock has a market cap of $6.46 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 1.85 and a beta of 1.28. The firm has a 50-day moving average of $25.19 and a 200 day moving average of $23.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25.

MGIC Investment (NYSE:MTG) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $306.03 million. During the same period last year, the company posted $0.64 EPS. MGIC Investment’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that MGIC Investment Co. will post 2.81 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 2.04%. MGIC Investment’s dividend payout ratio (DPR) is currently 18.31%.

Wall Street Analysts Forecast Growth

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

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.