Jane Street Group LLC Has $9.56 Million Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Jane Street Group LLC lifted its position in MGIC Investment Co. (NYSE:MTG) by 3.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 373,569 shares of the insurance provider’s stock after acquiring an additional 13,397 shares during the period. Jane Street Group LLC’s holdings in MGIC Investment were worth $9,563,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its position 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 acquiring an additional 556,859 shares during the period. State Street Corp raised its holdings in MGIC Investment by 0.8% during the 3rd quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock worth $232,767,000 after buying an additional 73,851 shares during the period. American Century Companies Inc. raised its holdings in MGIC Investment by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider’s stock worth $73,167,000 after buying an additional 50,307 shares during the period. Los Angeles Capital Management LLC raised its holdings in MGIC Investment by 0.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,438,727 shares of the insurance provider’s stock worth $31,005,000 after buying an additional 4,602 shares during the period. Finally, Vest Financial LLC raised its holdings in MGIC Investment by 3.7% during the 3rd quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider’s stock worth $28,499,000 after buying an additional 39,502 shares during the period. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Price Performance

Shares of MTG opened at $24.86 on Friday. MGIC Investment Co. has a twelve month low of $18.38 and a twelve month high of $26.56. 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 50 day moving average of $25.25 and a 200-day moving average of $23.97. The stock has a market capitalization of $6.30 billion, a P/E ratio of 8.75, a P/E/G ratio of 1.82 and a beta of 1.27.

MGIC Investment (NYSE:MTG) last released its earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $306.03 million. During the same period last year, the business earned $0.64 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that MGIC Investment Co. will post 2.85 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors 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 annualized dividend and a dividend yield of 2.09%. MGIC Investment’s dividend payout ratio is presently 18.31%.

Wall Street Analysts Forecast Growth

MTG has been the topic of several research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 target price on shares of MGIC Investment in a report on Tuesday. Barclays raised their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Royal Bank of Canada dropped their target price on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Finally, Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $26.00 to $25.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.00.

About MGIC Investment

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.