Bridgewater Associates LP Increases Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Bridgewater Associates LP boosted its stake in MGIC Investment Co. (NYSE:MTG) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,352 shares of the insurance provider’s stock after buying an additional 1,110 shares during the quarter. Bridgewater Associates LP’s holdings in MGIC Investment were worth $743,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its position in shares of MGIC Investment by 75.1% during the third quarter. Barclays PLC now owns 457,706 shares of the insurance provider’s stock valued at $11,716,000 after purchasing an additional 196,252 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of MGIC Investment in the 3rd quarter worth approximately $619,000. Franklin Resources Inc. grew its holdings in shares of MGIC Investment by 6.5% in the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after acquiring an additional 98,369 shares in the last quarter. DGS Capital Management LLC increased its position in shares of MGIC Investment by 6.2% during the third quarter. DGS Capital Management LLC now owns 85,797 shares of the insurance provider’s stock valued at $2,196,000 after acquiring an additional 4,974 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in MGIC Investment by 4.5% during the fourth quarter. Nordea Investment Management AB now owns 424,767 shares of the insurance provider’s stock worth $10,114,000 after acquiring an additional 18,399 shares during the period. 95.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on MTG shares. Compass Point restated a “neutral” rating and issued a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Barclays raised their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods lowered their price objective on shares of MGIC Investment from $28.00 to $26.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th. Finally, UBS Group increased their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.50.

MGIC Investment Stock Performance

Shares of MTG stock opened at $24.03 on Friday. The firm’s 50 day moving average is $23.90 and its 200 day moving average is $24.50. The stock has a market capitalization of $5.83 billion, a P/E ratio of 8.28 and a beta of 0.93. MGIC Investment Co. has a 12 month low of $19.81 and a 12 month high of $26.56. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. On average, sell-side analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s payout ratio is presently 17.93%.

Insider Activity

In related news, CAO Julie K. Sperber sold 4,600 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the transaction, the chief accounting officer now owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.41% of the company’s stock.

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.