Hancock Whitney Corp Takes $777,000 Position in MGIC Investment Co. (NYSE:MTG)

Hancock Whitney Corp acquired a new position in shares of MGIC Investment Co. (NYSE:MTG) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 30,371 shares of the insurance provider’s stock, valued at approximately $777,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MTG. Dimensional Fund Advisors LP increased its position in shares of MGIC Investment by 3.8% during the second 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. WINTON GROUP Ltd boosted its position in shares of MGIC Investment by 440.3% during the 2nd quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider’s stock worth $11,228,000 after purchasing an additional 424,580 shares during the period. Vest Financial LLC increased its holdings in MGIC Investment by 22.7% in the 2nd quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider’s stock valued at $23,139,000 after purchasing an additional 198,553 shares during the last quarter. CX Institutional purchased a new stake in MGIC Investment in the third quarter valued at approximately $4,911,000. Finally, Edgestream Partners L.P. lifted its stake in MGIC Investment by 153.9% during the second quarter. Edgestream Partners L.P. now owns 244,980 shares of the insurance provider’s stock worth $5,279,000 after purchasing an additional 148,494 shares in the last quarter. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

MGIC Investment Price Performance

MGIC Investment stock opened at $26.11 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $25.22 and a 200-day simple moving average of $23.62. The stock has a market cap of $6.62 billion, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 1.91 and a beta of 1.28. MGIC Investment Co. has a 12-month low of $17.31 and a 12-month high of $26.56.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.11. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The company had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. During the same period in the previous year, the business earned $0.64 EPS. MGIC Investment’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts expect that MGIC Investment Co. will post 2.81 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 annualized dividend and a yield of 1.99%. MGIC Investment’s dividend payout ratio is currently 18.31%.

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.