Blue Trust Inc. Has $549,000 Stock Position in MGIC Investment Co. (NYSE:MTG)

Blue Trust Inc. boosted its stake in MGIC Investment Co. (NYSE:MTG) by 51.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 21,429 shares of the insurance provider’s stock after acquiring an additional 7,260 shares during the period. Blue Trust Inc.’s holdings in MGIC Investment were worth $549,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DGS Capital Management LLC boosted its stake in shares of MGIC Investment by 5.4% in the 4th quarter. DGS Capital Management LLC now owns 90,444 shares of the insurance provider’s stock valued at $2,144,000 after purchasing an additional 4,647 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in MGIC Investment by 9.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 125,070 shares of the insurance provider’s stock valued at $2,965,000 after acquiring an additional 11,108 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in MGIC Investment during the 4th quarter worth about $459,000. Inspire Investing LLC raised its position in shares of MGIC Investment by 4.8% in the 4th quarter. Inspire Investing LLC now owns 16,883 shares of the insurance provider’s stock worth $400,000 after acquiring an additional 766 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of MGIC Investment by 33.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 40,398 shares of the insurance provider’s stock worth $958,000 after acquiring an additional 10,130 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods cut their target price on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Barclays increased their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada decreased their price target on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, MGIC Investment presently has a consensus rating of “Hold” and a consensus target price of $25.86.

MGIC Investment Stock Performance

Shares of MTG stock opened at $25.71 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 firm has a fifty day simple moving average of $24.54 and a two-hundred day simple moving average of $24.67. MGIC Investment Co. has a 12 month low of $18.68 and a 12 month high of $26.56. The firm has a market capitalization of $6.51 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.85 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, topping 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 company had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts forecast that MGIC Investment Co. will post 2.85 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.

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.