Lindenwold Advisors INC Purchases 592 Shares of MGIC Investment Co. (NYSE:MTG)

Lindenwold Advisors INC increased its holdings in MGIC Investment Co. (NYSE:MTG) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,611 shares of the insurance provider’s stock after buying an additional 592 shares during the quarter. Lindenwold Advisors INC’s holdings in MGIC Investment were worth $425,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC purchased a new position in shares of MGIC Investment during the 1st quarter worth $266,000. O Shaughnessy Asset Management LLC grew its holdings in MGIC Investment by 4.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 119,646 shares of the insurance provider’s stock valued at $2,675,000 after purchasing an additional 4,906 shares during the period. Seven Eight Capital LP purchased a new stake in MGIC Investment in the first quarter worth about $445,000. CANADA LIFE ASSURANCE Co raised its stake in shares of MGIC Investment by 5.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 303,583 shares of the insurance provider’s stock worth $6,787,000 after buying an additional 15,958 shares during the period. Finally, 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 buying an additional 37,030 shares during the period. 95.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MTG. Royal Bank of Canada reduced their target price on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. BTIG Research raised their price objective on shares of MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays upped their target price 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. Finally, Roth Mkm raised their price target on MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

MGIC Investment Price Performance

Shares of NYSE:MTG opened at $24.80 on Tuesday. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 8.73, a P/E/G ratio of 1.81 and a beta of 1.28. The firm has a fifty day moving average price of $25.18 and a 200 day moving average price of $23.41. MGIC Investment Co. has a fifty-two week low of $17.31 and a fifty-two week high of $26.52. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25.

MGIC Investment (NYSE:MTG) last released 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 net margin of 64.09% and a return on equity of 14.99%. The business had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’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 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, November 7th. MGIC Investment’s dividend payout ratio is presently 18.31%.

About MGIC Investment

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.