BNP Paribas Financial Markets Sells 5,426 Shares of MGIC Investment Co. (NYSE:MTG)

BNP Paribas Financial Markets cut its holdings in MGIC Investment Co. (NYSE:MTG) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,649 shares of the insurance provider’s stock after selling 5,426 shares during the quarter. BNP Paribas Financial Markets’ holdings in MGIC Investment were worth $2,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Avantax Planning Partners Inc. grew its position in shares of MGIC Investment by 6.8% in the 3rd quarter. Avantax Planning Partners Inc. now owns 11,543 shares of the insurance provider’s stock worth $193,000 after buying an additional 734 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in MGIC Investment by 2.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 39,747 shares of the insurance provider’s stock valued at $774,000 after acquiring an additional 812 shares in the last quarter. Blue Trust Inc. increased its position in MGIC Investment by 49.2% during the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock valued at $50,000 after purchasing an additional 849 shares during the period. Signaturefd LLC raised its holdings in MGIC Investment by 4.0% in the 4th quarter. Signaturefd LLC now owns 22,162 shares of the insurance provider’s stock worth $428,000 after purchasing an additional 862 shares in the last quarter. Finally, Janiczek Wealth Management LLC lifted its position in shares of MGIC Investment by 29.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 5,572 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 1,269 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Roth Mkm boosted their price target on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $24.00 target price (up previously from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. UBS Group lifted their price target on MGIC Investment from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their price objective on MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.67.

MGIC Investment Stock Up 0.8 %

MTG stock opened at $20.56 on Friday. The business has a 50 day moving average of $20.82 and a 200 day moving average of $19.65. The firm has a market cap of $5.48 billion, a PE ratio of 7.91, a price-to-earnings-growth ratio of 6.89 and a beta of 1.24. MGIC Investment Co. has a twelve month low of $14.73 and a twelve month high of $22.43. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.05. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. The firm had revenue of $294.40 million during the quarter, compared to the consensus estimate of $301.62 million. During the same period last year, the company earned $0.54 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. On average, research analysts forecast that MGIC Investment Co. will post 2.51 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Thursday, May 9th were paid a $0.115 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.46 annualized dividend and a dividend yield of 2.24%. MGIC Investment’s dividend payout ratio is presently 17.69%.

About MGIC Investment

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.