74,516 Shares in MGIC Investment Co. (NYSE:MTG) Acquired by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC acquired a new stake in MGIC Investment Co. (NYSE:MTG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 74,516 shares of the insurance provider’s stock, valued at approximately $1,606,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTG. Mackenzie Financial Corp grew its stake in MGIC Investment by 2.9% in the 2nd quarter. Mackenzie Financial Corp now owns 879,674 shares of the insurance provider’s stock worth $18,957,000 after acquiring an additional 24,627 shares in the last quarter. Caxton Associates LP boosted its holdings in shares of MGIC Investment by 11.2% in the second quarter. Caxton Associates LP now owns 104,041 shares of the insurance provider’s stock valued at $2,242,000 after purchasing an additional 10,518 shares during the period. Bank of Montreal Can grew its stake in MGIC Investment by 15.7% in the second quarter. Bank of Montreal Can now owns 68,034 shares of the insurance provider’s stock worth $1,467,000 after purchasing an additional 9,254 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in MGIC Investment by 35.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 15,486 shares of the insurance provider’s stock worth $334,000 after purchasing an additional 4,065 shares during the period. Finally, Ensign Peak Advisors Inc raised its position in MGIC Investment by 3.9% during the 2nd quarter. Ensign Peak Advisors Inc now owns 147,039 shares of the insurance provider’s stock valued at $3,169,000 after purchasing an additional 5,560 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Analyst Ratings Changes

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

MGIC Investment Stock Performance

MTG stock opened at $25.37 on Friday. The firm has a 50-day simple moving average of $24.59 and a two-hundred day simple moving average of $22.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.11 and a current ratio of 1.11. MGIC Investment Co. has a one year low of $16.30 and a one year high of $25.93. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 1.37 and a beta of 1.28.

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

MGIC Investment Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.13 dividend. This is a boost from MGIC Investment’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, August 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. MGIC Investment’s dividend payout ratio (DPR) is presently 20.00%.

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.