O Shaughnessy Asset Management LLC Grows Stock Holdings in MGIC Investment Co. (NYSE:MTG)

O Shaughnessy Asset Management LLC lifted its position in shares of MGIC Investment Co. (NYSE:MTG) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 157,186 shares of the insurance provider’s stock after purchasing an additional 13,402 shares during the period. O Shaughnessy Asset Management LLC’s holdings in MGIC Investment were worth $3,727,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MTG. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MGIC Investment by 9.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,168 shares of the insurance provider’s stock worth $1,796,000 after buying an additional 6,138 shares during the period. Verition Fund Management LLC lifted its stake in MGIC Investment by 96.4% in the third quarter. Verition Fund Management LLC now owns 22,500 shares of the insurance provider’s stock worth $576,000 after acquiring an additional 11,046 shares during the period. Erste Asset Management GmbH purchased a new stake in MGIC Investment in the third quarter worth $594,000. Paloma Partners Management Co bought a new stake in MGIC Investment in the third quarter valued at $574,000. Finally, Centiva Capital LP increased its position in MGIC Investment by 224.4% during the 3rd quarter. Centiva Capital LP now owns 33,388 shares of the insurance provider’s stock valued at $855,000 after purchasing an additional 23,097 shares during the period. 95.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the sale, the chief accounting officer now owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.05% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on MTG. Keefe, Bruyette & Woods dropped their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. UBS Group lifted their price objective on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Barclays increased their target price on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Compass Point restated a “neutral” rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Finally, Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $26.00 to $25.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.75.

MGIC Investment Stock Up 1.5 %

Shares of NYSE:MTG opened at $25.56 on Thursday. MGIC Investment Co. has a 12-month low of $19.26 and a 12-month high of $26.56. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 8.81 and a beta of 1.28. The stock has a fifty day simple moving average of $24.38 and a two-hundred day simple moving average of $24.68. 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 quarterly 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, research analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is currently 17.93%.

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.