DGS Capital Management LLC Acquires 4,974 Shares of MGIC Investment Co. (NYSE:MTG)

DGS Capital Management LLC lifted its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 85,797 shares of the insurance provider’s stock after purchasing an additional 4,974 shares during the period. MGIC Investment comprises about 0.6% of DGS Capital Management LLC’s investment portfolio, making the stock its 26th biggest position. DGS Capital Management LLC’s holdings in MGIC Investment were worth $2,196,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hara Capital LLC bought a new stake in MGIC Investment in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new stake in MGIC Investment during the 3rd quarter valued at $33,000. Brooklyn Investment Group purchased a new stake in MGIC Investment during the 3rd quarter valued at $69,000. Covestor Ltd grew its holdings in MGIC Investment by 65.5% in the 3rd quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 1,341 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of MGIC Investment by 41.7% in the third quarter. GAMMA Investing LLC now owns 4,352 shares of the insurance provider’s stock valued at $111,000 after acquiring an additional 1,281 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MTG shares. Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and reduced their price target for the company from $26.00 to $25.00 in a report on Monday. Barclays lifted their price objective on MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada decreased their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 price target on shares of MGIC Investment in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, MGIC Investment presently has a consensus rating of “Hold” and an average target price of $26.00.

MGIC Investment Stock Down 0.7 %

Shares of MTG traded down $0.18 during mid-day trading on Friday, reaching $24.68. The company had a trading volume of 93,783 shares, compared to its average volume of 1,725,127. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The firm has a 50-day moving average price of $25.25 and a 200 day moving average price of $23.97. MGIC Investment Co. has a 52 week low of $18.68 and a 52 week high of $26.56.

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

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 2.11%. MGIC Investment’s dividend payout ratio is currently 18.31%.

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.