Mercer Global Advisors Inc. ADV Raises Stock Position in MGIC Investment Co. (NYSE:MTG)

Mercer Global Advisors Inc. ADV increased its position in shares of MGIC Investment Co. (NYSE:MTG – Get Rating) by 124.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,522 shares of the insurance provider’s stock after buying an additional 16,387 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in MGIC Investment were worth $384,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. UBS Group AG increased its stake in shares of MGIC Investment by 703.4% during the fourth quarter. UBS Group AG now owns 206,277 shares of the insurance provider’s stock worth $2,682,000 after buying an additional 180,602 shares during the period. Belpointe Asset Management LLC acquired a new position in MGIC Investment in the fourth quarter valued at approximately $33,000. Van ECK Associates Corp boosted its holdings in MGIC Investment by 9.7% in the fourth quarter. Van ECK Associates Corp now owns 9,797 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 867 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in MGIC Investment by 35.4% in the fourth quarter. Russell Investments Group Ltd. now owns 196,368 shares of the insurance provider’s stock valued at $2,553,000 after purchasing an additional 51,372 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in MGIC Investment by 1.8% in the fourth quarter. Arizona State Retirement System now owns 85,623 shares of the insurance provider’s stock valued at $1,113,000 after purchasing an additional 1,489 shares in the last quarter. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gary A. Poliner sold 8,296 shares of MGIC Investment stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $13.92, for a total value of $115,480.32. Following the completion of the transaction, the director now owns 8,821 shares in the company, valued at approximately $122,788.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.79% of the stock is owned by company insiders.

MGIC Investment Trading Up 0.2 %

NYSE:MTG opened at $15.10 on Wednesday. MGIC Investment Co. has a 1 year low of $11.38 and a 1 year high of $15.76. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 5.43, a PEG ratio of 1.39 and a beta of 1.34. The stock has a fifty day moving average price of $13.97 and a two-hundred day moving average price of $13.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.69 and a current ratio of 0.69.

MGIC Investment (NYSE:MTG – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $284.00 million for the quarter, compared to analyst estimates of $291.89 million. MGIC Investment had a return on equity of 18.77% and a net margin of 72.70%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. As a group, sell-side analysts anticipate that MGIC Investment Co. will post 2.19 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $0.40 annualized dividend and a yield of 2.65%. MGIC Investment’s dividend payout ratio is presently 14.39%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MTG. StockNews.com assumed coverage on MGIC Investment in a report on Thursday, May 18th. They issued a “hold” rating for the company. Roth Capital reissued a “buy” rating on shares of MGIC Investment in a report on Thursday, February 2nd. Finally, Compass Point raised MGIC Investment from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, April 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, MGIC Investment has a consensus rating of “Moderate Buy” and a consensus target price of $16.20.

MGIC Investment Company Profile

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MGIC Investment Corp. is a holding company, which engages in the provision of mortgage insurance, other mortgage credit risk management solutions, and ancillary services. The company was founded by Max Karl in 1957 and is headquartered in Milwaukee, WI.