KBC Group NV Buys 2,971 Shares of MGIC Investment Co. (NYSE:MTG)

KBC Group NV boosted its stake in shares of MGIC Investment Co. (NYSE:MTG) by 40.2% during the fourth quarter, Holdings Channel reports. The firm owned 10,357 shares of the insurance provider’s stock after purchasing an additional 2,971 shares during the quarter. KBC Group NV’s holdings in MGIC Investment were worth $246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hara Capital LLC bought a new stake in MGIC Investment during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new stake in shares of MGIC Investment during the 3rd quarter valued at $33,000. UMB Bank n.a. increased its stake in shares of MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 938 shares in the last quarter. Brooklyn Investment Group bought a new position in MGIC Investment in the 3rd quarter worth $69,000. Finally, Covestor Ltd lifted its position in MGIC Investment by 65.5% during the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock valued at $87,000 after purchasing an additional 1,341 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Royal Bank of Canada reduced their price target 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. Keefe, Bruyette & Woods decreased their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Finally, Barclays raised their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.86.

MGIC Investment Trading Up 1.7 %

Shares of MTG opened at $25.57 on Wednesday. MGIC Investment Co. has a 1 year low of $18.68 and a 1 year high of $26.56. The company has a 50 day simple moving average of $24.53 and a two-hundred day simple moving average of $24.72. 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 firm has a market cap of $6.48 billion, a P/E ratio of 9.00, a price-to-earnings-growth ratio of 2.02 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. On average, equities analysts expect that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be given a $0.13 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.03%. MGIC Investment’s dividend payout ratio is currently 18.31%.

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.