Blue Trust Inc. Has $549,000 Position in MGIC Investment Co. (NYSE:MTG)

Blue Trust Inc. raised its position in MGIC Investment Co. (NYSE:MTG) by 51.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,429 shares of the insurance provider’s stock after buying an additional 7,260 shares during the quarter. Blue Trust Inc.’s holdings in MGIC Investment were worth $549,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new position in shares of MGIC Investment in the third quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new position in shares of MGIC Investment during the 3rd quarter worth approximately $33,000. UMB Bank n.a. increased its holdings in shares of MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 938 shares during the period. Brooklyn Investment Group acquired a new stake in shares of MGIC Investment in the third quarter valued at approximately $69,000. Finally, Covestor Ltd boosted its stake in shares of MGIC Investment by 65.5% in the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock valued at $87,000 after buying an additional 1,341 shares during the period. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Performance

MGIC Investment stock opened at $25.71 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The stock has a market cap of $6.51 billion, a PE ratio of 9.05, a P/E/G ratio of 1.85 and a beta of 1.29. MGIC Investment Co. has a 12-month low of $18.68 and a 12-month high of $26.56. The business’s 50-day moving average price is $24.54 and its two-hundred day moving average price is $24.67.

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, beating the consensus estimate of $0.66 by $0.11. The company had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. As a group, analysts expect that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.02%. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MTG shares. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $26.00 to $25.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods dropped their price target on 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. Royal Bank of Canada reduced their price objective 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. Finally, Barclays boosted their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.86.

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.