Freedom Investment Management Inc. Has $223,000 Holdings in MGIC Investment Co. (NYSE:MTG)

Freedom Investment Management Inc. trimmed its position in shares of MGIC Investment Co. (NYSE:MTG) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,693 shares of the insurance provider’s stock after selling 1,244 shares during the period. Freedom Investment Management Inc.’s holdings in MGIC Investment were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of MGIC Investment by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider’s stock valued at $326,375,000 after purchasing an additional 556,859 shares during the period. WINTON GROUP Ltd lifted its position in shares of MGIC Investment by 440.3% in the second quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider’s stock valued at $11,228,000 after buying an additional 424,580 shares during the last quarter. Vest Financial LLC lifted its position in shares of MGIC Investment by 22.7% in the second quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider’s stock valued at $23,139,000 after buying an additional 198,553 shares during the last quarter. CX Institutional acquired a new position in shares of MGIC Investment during the 3rd quarter worth approximately $4,911,000. Finally, Edgestream Partners L.P. raised its stake in MGIC Investment by 153.9% in the 2nd quarter. Edgestream Partners L.P. now owns 244,980 shares of the insurance provider’s stock valued at $5,279,000 after acquiring an additional 148,494 shares during the period. 95.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

MTG has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of 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. BTIG Research lifted their target price on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Barclays increased their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

MGIC Investment Stock Up 0.6 %

MTG stock opened at $26.26 on Monday. MGIC Investment Co. has a 52 week low of $17.33 and a 52 week high of $26.56. The business has a 50-day simple moving average of $25.26 and a 200 day simple moving average of $23.73. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The company has a market cap of $6.65 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 1.88 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The business had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. During the same quarter last year, the business posted $0.64 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that MGIC Investment Co. will post 2.85 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.98%. MGIC Investment’s 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.