Aster Capital Management DIFC Ltd Invests $487,000 in MGIC Investment Co. (NYSE:MTG)

Aster Capital Management DIFC Ltd bought a new stake in shares of MGIC Investment Co. (NYSE:MTG) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 20,553 shares of the insurance provider’s stock, valued at approximately $487,000.

Other large investors have also added to or reduced their stakes in the company. Verition Fund Management LLC grew its position in shares of MGIC Investment by 96.4% during the 3rd quarter. Verition Fund Management LLC now owns 22,500 shares of the insurance provider’s stock worth $576,000 after buying an additional 11,046 shares during the period. Quantinno Capital Management LP grew its holdings in MGIC Investment by 50.7% in the third quarter. Quantinno Capital Management LP now owns 104,392 shares of the insurance provider’s stock worth $2,672,000 after purchasing an additional 35,125 shares during the period. State Street Corp raised its holdings in shares of MGIC Investment by 0.8% during the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock valued at $232,767,000 after purchasing an additional 73,851 shares during the period. Weiss Asset Management LP bought a new position in shares of MGIC Investment during the 3rd quarter worth about $2,907,000. Finally, Jane Street Group LLC boosted its position in shares of MGIC Investment by 3.7% during the 3rd quarter. Jane Street Group LLC now owns 373,569 shares of the insurance provider’s stock worth $9,563,000 after purchasing an additional 13,397 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MTG shares. Compass Point reaffirmed a “neutral” rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and cut their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. UBS Group boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods dropped their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays boosted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, MGIC Investment has a consensus rating of “Hold” and a consensus target price of $26.75.

MGIC Investment Stock Performance

NYSE MTG opened at $23.09 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The company has a fifty day moving average price of $24.33 and a 200-day moving average price of $24.65. MGIC Investment Co. has a 1 year low of $19.26 and a 1 year high of $26.56. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 7.96 and a beta of 0.93.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating 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%. As a group, equities research analysts predict that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were given a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.25%. MGIC Investment’s dividend payout ratio is currently 17.93%.

Insider Buying and Selling at MGIC Investment

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

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.