Vanguard Personalized Indexing Management LLC Has $1.16 Million Stock Position in MGIC Investment Co. (NYSE:MTG)

Vanguard Personalized Indexing Management LLC lifted its stake in shares of MGIC Investment Co. (NYSE:MTG) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,007 shares of the insurance provider’s stock after buying an additional 2,678 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in MGIC Investment were worth $1,164,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in MGIC Investment by 482.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 946 shares in the last quarter. Quarry LP increased its stake in shares of MGIC Investment by 244.4% in the fourth quarter. Quarry LP now owns 1,977 shares of the insurance provider’s stock valued at $38,000 after buying an additional 1,403 shares during the period. CWM LLC raised its holdings in MGIC Investment by 249.1% in the 1st quarter. CWM LLC now owns 2,175 shares of the insurance provider’s stock valued at $49,000 after buying an additional 1,552 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in MGIC Investment during the 1st quarter worth approximately $50,000. Finally, Johnson Financial Group Inc. bought a new stake in MGIC Investment during the 4th quarter worth approximately $59,000. 95.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Roth Mkm lifted their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. BTIG Research upped their price target on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays raised their price objective on MGIC Investment from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods raised shares of MGIC Investment from a “market perform” rating to an “outperform” rating and increased their target price for the company from $24.00 to $25.00 in a research report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.33.

MGIC Investment Stock Performance

Shares of MTG stock opened at $25.38 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13. MGIC Investment Co. has a 52 week low of $16.30 and a 52 week high of $25.93. The firm has a 50 day moving average of $24.38 and a 200-day moving average of $22.16. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.15. The firm had revenue of $305.28 million during the quarter, compared to the consensus estimate of $301.02 million. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. On average, equities analysts forecast that MGIC Investment Co. will post 2.76 earnings per share for the current year.

MGIC Investment Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a $0.13 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.52 annualized dividend and a yield of 2.05%. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.12. MGIC Investment’s dividend payout ratio is presently 20.00%.

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.