MGIC Investment Co. (NYSE:MTG) Position Increased by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its position in MGIC Investment Co. (NYSE:MTG) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 908,046 shares of the insurance provider’s stock after acquiring an additional 44,259 shares during the period. Mackenzie Financial Corp owned about 0.33% of MGIC Investment worth $17,516,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new position in MGIC Investment in the 4th quarter worth approximately $1,503,000. NewEdge Wealth LLC boosted its position in shares of MGIC Investment by 8.8% in the fourth quarter. NewEdge Wealth LLC now owns 1,444,931 shares of the insurance provider’s stock worth $27,873,000 after buying an additional 117,301 shares during the period. Janiczek Wealth Management LLC boosted its position in shares of MGIC Investment by 29.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 5,572 shares of the insurance provider’s stock worth $107,000 after buying an additional 1,269 shares during the period. Fortem Financial Group LLC grew its holdings in shares of MGIC Investment by 10.5% during the fourth quarter. Fortem Financial Group LLC now owns 70,478 shares of the insurance provider’s stock valued at $1,360,000 after buying an additional 6,710 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in MGIC Investment by 157.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 126,617 shares of the insurance provider’s stock valued at $2,442,000 after buying an additional 77,426 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

MTG has been the topic of several research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $24.00 target price (up previously from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Roth Mkm boosted their price objective on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada increased their target price on shares of MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.08.

MGIC Investment Stock Up 1.0 %

Shares of MGIC Investment stock opened at $19.58 on Friday. The stock has a 50-day simple moving average of $20.34 and a 200-day simple moving average of $18.99. MGIC Investment Co. has a 52-week low of $13.97 and a 52-week high of $22.43. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 1.60 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98.

MGIC Investment (NYSE:MTG) last posted its earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. The firm had revenue of $284.72 million during the quarter, compared to analysts’ expectations of $302.96 million. On average, equities research analysts expect that MGIC Investment Co. will post 2.43 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Thursday, February 15th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Wednesday, February 14th. MGIC Investment’s payout ratio is 18.47%.

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.