Financial Strategies Group Inc. Buys 966 Shares of MGIC Investment Co. (NYSE:MTG)

Financial Strategies Group Inc. grew its holdings in MGIC Investment Co. (NYSE:MTG) by 9.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,440 shares of the insurance provider’s stock after acquiring an additional 966 shares during the quarter. Financial Strategies Group Inc.’s holdings in MGIC Investment were worth $295,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MTG. Vident Advisory LLC raised its stake in shares of MGIC Investment by 21.1% in the first quarter. Vident Advisory LLC now owns 212,660 shares of the insurance provider’s stock worth $4,755,000 after purchasing an additional 37,030 shares during the last quarter. Sei Investments Co. raised its stake in shares of MGIC Investment by 31.7% in the first quarter. Sei Investments Co. now owns 496,778 shares of the insurance provider’s stock worth $11,108,000 after purchasing an additional 119,476 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of MGIC Investment by 110.9% in the first quarter. Janney Montgomery Scott LLC now owns 61,539 shares of the insurance provider’s stock worth $1,376,000 after purchasing an additional 32,358 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of MGIC Investment by 24.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 369,053 shares of the insurance provider’s stock worth $8,132,000 after purchasing an additional 73,474 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of MGIC Investment by 2.4% in the first quarter. Clearbridge Investments LLC now owns 6,008,042 shares of the insurance provider’s stock worth $134,340,000 after purchasing an additional 139,562 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Stock Down 0.5 %

Shares of MTG stock opened at $24.56 on Friday. The stock has a 50 day moving average of $25.24 and a 200 day moving average of $23.18. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.13. The stock has a market cap of $6.37 billion, a P/E ratio of 8.65, a P/E/G ratio of 1.25 and a beta of 1.28. MGIC Investment Co. has a twelve month low of $17.25 and a twelve month high of $26.52.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.66 by $0.11. MGIC Investment had a return on equity of 15.14% and a net margin of 64.09%. The company had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. During the same period last year, the company earned $0.64 earnings per share. MGIC Investment’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts expect that MGIC Investment Co. will post 2.76 EPS for the current year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, November 7th. MGIC Investment’s payout ratio is currently 18.31%.

Analyst Upgrades and Downgrades

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

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.