Corient Private Wealth LLC Buys 2,210 Shares of MGIC Investment Co. (NYSE:MTG)

Corient Private Wealth LLC lifted its stake in MGIC Investment Co. (NYSE:MTG) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,602 shares of the insurance provider’s stock after acquiring an additional 2,210 shares during the quarter. Corient Private Wealth LLC’s holdings in MGIC Investment were worth $3,568,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. grew its position in MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after buying an additional 938 shares during the period. Venturi Wealth Management LLC grew its position in MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after buying an additional 918 shares during the period. V Square Quantitative Management LLC grew its position in MGIC Investment by 61.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after buying an additional 794 shares during the period. EverSource Wealth Advisors LLC grew its position in MGIC Investment by 21.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock valued at $55,000 after buying an additional 419 shares during the period. Finally, Brooklyn Investment Group bought a new stake in MGIC Investment during the third quarter valued at approximately $69,000. 95.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MTG has been the subject of several recent research reports. Barclays boosted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Compass Point reiterated a “neutral” rating and issued a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. 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. UBS Group upped their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods dropped their price target 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, MGIC Investment currently has an average rating of “Hold” and a consensus target price of $26.75.

MGIC Investment Price Performance

MTG stock opened at $23.52 on Friday. MGIC Investment Co. has a one year low of $19.26 and a one year high of $26.56. The company’s fifty day moving average price is $24.29 and its 200-day moving average price is $24.69. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The company has a market capitalization of $5.71 billion, a PE ratio of 8.11 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last released its earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. On average, equities analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Insider Activity at MGIC Investment

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

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.