Ritholtz Wealth Management Buys 10,864 Shares of MGIC Investment Co. (NYSE:MTG)

Ritholtz Wealth Management increased its stake in shares of MGIC Investment Co. (NYSE:MTG) by 13.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 91,690 shares of the insurance provider’s stock after acquiring an additional 10,864 shares during the period. Ritholtz Wealth Management’s holdings in MGIC Investment were worth $2,174,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MTG. Vanguard Personalized Indexing Management LLC raised its stake in shares of MGIC Investment by 5.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 54,007 shares of the insurance provider’s stock worth $1,164,000 after purchasing an additional 2,678 shares in the last quarter. XTX Topco Ltd acquired a new stake in MGIC Investment in the second quarter valued at $753,000. Intech Investment Management LLC bought a new position in shares of MGIC Investment in the 2nd quarter valued at about $231,000. EMG Holdings L.P. acquired a new position in shares of MGIC Investment during the 2nd quarter worth about $2,128,000. Finally, Pacer Advisors Inc. raised its holdings in shares of MGIC Investment by 16.1% in the 2nd quarter. Pacer Advisors Inc. now owns 72,642 shares of the insurance provider’s stock valued at $1,565,000 after purchasing an additional 10,088 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Up 0.6 %

NYSE MTG opened at $24.48 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 1.72 and a beta of 1.29. The company has a 50 day moving average of $24.51 and a 200-day moving average of $24.47. MGIC Investment Co. has a 1-year low of $18.68 and a 1-year high of $26.56.

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 analysts’ consensus estimates of $0.66 by $0.11. The firm had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. On average, equities research analysts expect that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.

Analyst Ratings Changes

MTG has been the topic of a number of recent analyst reports. Barclays boosted their price target on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods cut their price objective 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. Finally, Royal Bank of Canada dropped their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.86.

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.