Morgan Stanley Increases Stock Position in MGIC Investment Co. (NYSE:MTG)

Morgan Stanley boosted its stake in shares of MGIC Investment Co. (NYSE:MTG) by 480.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,676,571 shares of the insurance provider’s stock after buying an additional 3,043,075 shares during the quarter. Morgan Stanley owned 1.09% of MGIC Investment worth $46,140,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MTG. Perigon Wealth Management LLC purchased a new position in MGIC Investment during the fourth quarter worth about $43,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of MGIC Investment in the third quarter valued at approximately $95,000. Neo Ivy Capital Management boosted its stake in shares of MGIC Investment by 62.2% in the third quarter. Neo Ivy Capital Management now owns 11,795 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 4,524 shares during the period. CI Investments Inc. boosted its stake in shares of MGIC Investment by 430.3% in the fourth quarter. CI Investments Inc. now owns 10,468 shares of the insurance provider’s stock valued at $131,000 after purchasing an additional 8,494 shares during the period. Finally, Sowell Financial Services LLC boosted its stake in shares of MGIC Investment by 304.8% in the fourth quarter. Sowell Financial Services LLC now owns 10,532 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 7,930 shares during the period. 89.86% of the stock is owned by institutional investors.

Separately, BTIG Research raised their price objective on shares of MGIC Investment from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, December 17th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $12.64.

Shares of NYSE:MTG opened at $13.97 on Thursday. The firm’s 50 day moving average price is $12.95 and its 200 day moving average price is $11.88. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 1.67 and a beta of 1.84. MGIC Investment Co. has a fifty-two week low of $5.29 and a fifty-two week high of $14.12. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.28.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, February 22nd. The insurance provider reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.04. The firm had revenue of $302.28 million for the quarter, compared to analysts’ expectations of $301.73 million. MGIC Investment had a net margin of 39.04% and a return on equity of 11.08%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 earnings per share. On average, equities analysts anticipate that MGIC Investment Co. will post 1.26 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 3rd. Investors of record on Wednesday, February 17th were issued a $0.06 dividend. The ex-dividend date was Tuesday, February 16th. This represents a $0.24 annualized dividend and a yield of 1.72%. MGIC Investment’s dividend payout ratio (DPR) is 13.04%.

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, 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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