Yousif Capital Management LLC Lowers Holdings in MGIC Investment Co. (NYSE:MTG)

Yousif Capital Management LLC reduced its stake in shares of MGIC Investment Co. (NYSE:MTG) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,091 shares of the insurance provider’s stock after selling 2,046 shares during the period. Yousif Capital Management LLC’s holdings in MGIC Investment were worth $2,567,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MTG. Vest Financial LLC raised its stake in MGIC Investment by 29.4% during the fourth quarter. Vest Financial LLC now owns 690,877 shares of the insurance provider’s stock worth $13,327,000 after purchasing an additional 157,036 shares during the period. Assenagon Asset Management S.A. increased its stake in MGIC Investment by 335.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 103,129 shares of the insurance provider’s stock worth $1,989,000 after acquiring an additional 79,457 shares during the last quarter. NewEdge Wealth LLC raised its holdings in shares of MGIC Investment by 8.8% in the 4th quarter. NewEdge Wealth LLC now owns 1,444,931 shares of the insurance provider’s stock worth $27,873,000 after purchasing an additional 117,301 shares during the period. Invesco Ltd. lifted its stake in shares of MGIC Investment by 47.3% in the 3rd quarter. Invesco Ltd. now owns 3,174,560 shares of the insurance provider’s stock valued at $52,983,000 after purchasing an additional 1,019,759 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of MGIC Investment by 8.5% during the 3rd quarter. LSV Asset Management now owns 10,427,565 shares of the insurance provider’s stock worth $174,036,000 after purchasing an additional 820,182 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on MTG shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $24.00 price target (up previously from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Roth Mkm lifted their target price on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada increased their price target on MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.08.

MGIC Investment Price Performance

Shares of MTG stock opened at $20.56 on Tuesday. The firm has a fifty day simple moving average of $20.48 and a 200-day simple moving average of $19.17. The company has a market capitalization of $5.54 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. MGIC Investment Co. has a twelve month low of $13.97 and a twelve month high of $22.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. The company had revenue of $284.72 million during the quarter, compared to analysts’ expectations of $302.96 million. Equities research analysts anticipate that MGIC Investment Co. will post 2.43 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 Tuesday, May 21st. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.46 dividend on an annualized basis and a yield of 2.24%. MGIC Investment’s dividend payout ratio (DPR) is presently 18.47%.

MGIC Investment Company Profile

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.