Mitsubishi UFJ Trust & Banking Corp Buys 19,103 Shares of MGIC Investment Co. (NYSE:MTG)

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of MGIC Investment Co. (NYSE:MTGGet Rating) by 19.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,362 shares of the insurance provider’s stock after buying an additional 19,103 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in MGIC Investment were worth $1,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. DGS Capital Management LLC lifted its position in shares of MGIC Investment by 7.1% during the 2nd quarter. DGS Capital Management LLC now owns 11,998 shares of the insurance provider’s stock worth $151,000 after buying an additional 799 shares during the period. Van ECK Associates Corp raised its position in MGIC Investment by 15.9% in the 1st quarter. Van ECK Associates Corp now owns 8,097 shares of the insurance provider’s stock valued at $110,000 after purchasing an additional 1,112 shares during the last quarter. Yousif Capital Management LLC raised its position in MGIC Investment by 0.7% in the 2nd quarter. Yousif Capital Management LLC now owns 179,154 shares of the insurance provider’s stock valued at $2,257,000 after purchasing an additional 1,290 shares during the last quarter. Xponance Inc. raised its position in MGIC Investment by 4.2% in the 2nd quarter. Xponance Inc. now owns 36,832 shares of the insurance provider’s stock valued at $464,000 after purchasing an additional 1,493 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. raised its position in MGIC Investment by 4.4% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 39,742 shares of the insurance provider’s stock valued at $539,000 after purchasing an additional 1,659 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

MGIC Investment Trading Up 0.9 %

MTG stock opened at $13.29 on Monday. The company has a market cap of $3.95 billion, a P/E ratio of 4.98, a PEG ratio of 0.93 and a beta of 1.38. MGIC Investment Co. has a twelve month low of $11.38 and a twelve month high of $16.84. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $13.32 and a 200-day moving average of $13.51.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Thursday, November 10th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.01%. MGIC Investment’s dividend payout ratio (DPR) is presently 14.98%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MTG. Barclays cut their price objective on MGIC Investment from $23.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, October 13th. Compass Point downgraded MGIC Investment from a “buy” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $14.50 in a research report on Tuesday, November 8th. Bank of America upgraded MGIC Investment from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Thursday, August 18th. Credit Suisse Group dropped their target price on MGIC Investment to $15.00 in a research report on Thursday, October 13th. Finally, StockNews.com started coverage on MGIC Investment in a research report on Wednesday, October 12th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MGIC Investment has an average rating of “Moderate Buy” and an average price target of $16.08.

MGIC Investment Profile

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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.

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

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