Fortem Financial Group LLC Has $1.57 Million Stock Position in MGIC Investment Co. (NYSE:MTG)

Fortem Financial Group LLC raised its stake in MGIC Investment Co. (NYSE:MTG) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,203 shares of the insurance provider’s stock after purchasing an additional 2,054 shares during the period. Fortem Financial Group LLC’s holdings in MGIC Investment were worth $1,570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MTG. Dimensional Fund Advisors LP grew its position in MGIC Investment by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider’s stock valued at $326,375,000 after acquiring an additional 556,859 shares during the period. State Street Corp raised its holdings in shares of MGIC Investment by 0.8% in the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock valued at $232,767,000 after buying an additional 73,851 shares during the last quarter. American Century Companies Inc. lifted its position in MGIC Investment by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider’s stock worth $73,167,000 after buying an additional 50,307 shares in the last quarter. Franklin Resources Inc. grew its holdings in MGIC Investment by 6.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock worth $41,836,000 after acquiring an additional 98,369 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in MGIC Investment by 0.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,438,727 shares of the insurance provider’s stock valued at $31,005,000 after acquiring an additional 4,602 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Royal Bank of Canada lowered their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and cut their price objective for the company from $26.00 to $25.00 in a report on Monday, December 9th. Barclays increased their target price on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $29.00 price target on shares of MGIC Investment in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.00.

MGIC Investment Stock Performance

MTG stock traded down $0.38 during trading hours on Monday, reaching $23.47. The stock had a trading volume of 898,078 shares, compared to its average volume of 1,311,830. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a 50-day simple moving average of $24.69 and a 200 day simple moving average of $24.35. MGIC Investment Co. has a fifty-two week low of $18.68 and a fifty-two week high of $26.56. The stock has a market capitalization of $5.95 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 1.75 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last announced its earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The company had revenue of $306.65 million for the quarter, compared to analysts’ expectations of $306.03 million. During the same period last year, the firm earned $0.64 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts predict that MGIC Investment Co. will post 2.85 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 2.22%. MGIC Investment’s dividend payout ratio is currently 18.31%.

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.