Foster & Motley Inc. Buys 15,030 Shares of MGIC Investment Co. (NYSE:MTG)

Foster & Motley Inc. lifted its holdings in MGIC Investment Co. (NYSE:MTG) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 235,835 shares of the insurance provider’s stock after buying an additional 15,030 shares during the period. Foster & Motley Inc.’s holdings in MGIC Investment were worth $5,592,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MTG. Hara Capital LLC bought a new stake in shares of MGIC Investment during the third quarter worth about $25,000. V Square Quantitative Management LLC bought a new position in shares of MGIC Investment in the 3rd quarter worth $33,000. UMB Bank n.a. grew its position in MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 938 shares during the last quarter. Brooklyn Investment Group purchased a new stake in MGIC Investment during the third quarter valued at about $69,000. Finally, Covestor Ltd raised its holdings in MGIC Investment by 65.5% during the 3rd quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock valued at $87,000 after buying an additional 1,341 shares during the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Performance

Shares of MTG stock opened at $25.36 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 1.85 and a beta of 1.29. The company’s 50 day moving average is $24.53 and its 200 day moving average is $24.66. MGIC Investment Co. has a 52-week low of $18.68 and a 52-week high of $26.56.

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

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Tuesday, February 18th. MGIC Investment’s dividend payout ratio is presently 18.31%.

Analyst Ratings Changes

MTG has been the subject of several recent analyst reports. Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Barclays boosted their price target on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods cut their price target on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. Finally, Royal Bank of Canada cut their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.86.

MGIC Investment 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.