Lazard Asset Management LLC Purchases 11,847 Shares of MGIC Investment Co. (NYSE:MTG)

Lazard Asset Management LLC lifted its position in shares of MGIC Investment Co. (NYSE:MTGGet Rating) by 607.9% in the second quarter, HoldingsChannel reports. The fund owned 13,796 shares of the insurance provider’s stock after buying an additional 11,847 shares during the period. Lazard Asset Management LLC’s holdings in MGIC Investment were worth $173,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Metis Global Partners LLC raised its position in shares of MGIC Investment by 158.7% during the second quarter. Metis Global Partners LLC now owns 27,604 shares of the insurance provider’s stock worth $348,000 after acquiring an additional 16,935 shares during the last quarter. M&T Bank Corp bought a new stake in shares of MGIC Investment during the second quarter worth $76,000. Loomis Sayles & Co. L P bought a new stake in shares of MGIC Investment during the second quarter worth $139,000. Los Angeles Capital Management LLC raised its position in shares of MGIC Investment by 443.5% during the second quarter. Los Angeles Capital Management LLC now owns 315,995 shares of the insurance provider’s stock worth $3,982,000 after acquiring an additional 257,855 shares during the last quarter. Finally, Gator Capital Management LLC raised its position in shares of MGIC Investment by 2.8% during the second quarter. Gator Capital Management LLC now owns 108,630 shares of the insurance provider’s stock worth $1,369,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

MGIC Investment Stock Up 0.9 %

NYSE:MTG opened at $13.29 on Monday. MGIC Investment Co. has a 1 year low of $11.38 and a 1 year high of $16.84. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 4.98, a PEG ratio of 0.93 and a beta of 1.38. The stock has a 50-day moving average price of $13.32 and a two-hundred day moving average price of $13.51.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Thursday, November 10th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.40 dividend on an annualized basis and a yield of 3.01%. MGIC Investment’s payout ratio is 14.98%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTG. StockNews.com began coverage on MGIC Investment in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Compass Point cut MGIC Investment from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $14.50 in a research note on Tuesday, November 8th. Bank of America raised MGIC Investment from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Thursday, August 18th. Barclays decreased their price objective on MGIC Investment from $23.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, October 13th. Finally, Credit Suisse Group decreased their price objective on MGIC Investment to $15.00 in a research note on Thursday, October 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, MGIC Investment has an average rating of “Moderate Buy” and a consensus price target of $16.08.

MGIC Investment Company Profile

(Get Rating)

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, 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.

See Also

Want to see what other hedge funds are holding MTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGIC Investment Co. (NYSE:MTGGet Rating).

Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

Receive News & Ratings for MGIC Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment and related companies with MarketBeat.com's FREE daily email newsletter.