Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Invests $386,000 in MGIC Investment Co. (NYSE:MTG)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in MGIC Investment Co. (NYSE:MTGGet Rating) in the third quarter, Holdings Channel.com reports. The firm acquired 30,111 shares of the insurance provider’s stock, valued at approximately $386,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of MGIC Investment by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 33,025,974 shares of the insurance provider’s stock worth $447,501,000 after purchasing an additional 1,166,300 shares in the last quarter. BlackRock Inc. lifted its stake in shares of MGIC Investment by 0.5% in the 1st quarter. BlackRock Inc. now owns 27,872,353 shares of the insurance provider’s stock valued at $377,670,000 after acquiring an additional 127,008 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of MGIC Investment by 93.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 20,227,237 shares of the insurance provider’s stock valued at $254,863,000 after acquiring an additional 9,768,606 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of MGIC Investment by 8.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,430,237 shares of the insurance provider’s stock valued at $131,421,000 after acquiring an additional 821,754 shares during the last quarter. Finally, Natixis lifted its stake in shares of MGIC Investment by 9.8% in the 2nd quarter. Natixis now owns 6,722,000 shares of the insurance provider’s stock valued at $84,717,000 after acquiring an additional 602,678 shares during the last quarter. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Credit Suisse Group lowered their target price on MGIC Investment to $15.00 in a research note on Thursday, October 13th. Compass Point lowered MGIC Investment from a “buy” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $14.50 in a research note on Tuesday, November 8th. Barclays lowered MGIC Investment from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $16.00 to $14.00 in a research note on Friday, January 6th. Finally, StockNews.com initiated coverage on MGIC Investment in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.75.

MGIC Investment Trading Up 0.7 %

MTG opened at $13.72 on Monday. The business has a 50 day simple moving average of $13.16 and a two-hundred day simple moving average of $13.55. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 5.14, a PEG ratio of 1.20 and a beta of 1.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.50 and a quick ratio of 0.50. MGIC Investment Co. has a one year low of $11.38 and a one year high of $16.41.

MGIC Investment (NYSE:MTGGet Rating) last announced its earnings results on Wednesday, November 2nd. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.31. MGIC Investment had a return on equity of 19.66% and a net margin of 72.18%. The firm had revenue of $296.06 million during the quarter, compared to analyst estimates of $322.19 million. Analysts predict that MGIC Investment Co. will post 2.86 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Thursday, November 10th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Wednesday, November 9th. MGIC Investment’s dividend payout ratio is currently 14.98%.

MGIC Investment Profile

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MGIC Investment Corp. is a private mortgage insurer that serves lenders throughout the United States, and Puerto Rico. It also provides lenders with underwriting and other services and products related to home mortgage lending through its subsidiaries, such as Mortgage Guaranty Insurance Corp. and MGIC Indemnity Corp.

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

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