Diversified Trust Co Acquires 5,779 Shares of MGIC Investment Co. (NYSE:MTG)

Diversified Trust Co grew its holdings in MGIC Investment Co. (NYSE:MTG) by 22.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,720 shares of the insurance provider’s stock after purchasing an additional 5,779 shares during the quarter. Diversified Trust Co’s holdings in MGIC Investment were worth $752,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Hara Capital LLC bought a new position in MGIC Investment during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in MGIC Investment during the 3rd quarter worth approximately $33,000. Brooklyn Investment Group bought a new position in MGIC Investment during the 3rd quarter worth approximately $69,000. Covestor Ltd raised its holdings in MGIC Investment by 65.5% during the 3rd quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock worth $87,000 after buying an additional 1,341 shares during the period. Finally, GAMMA Investing LLC raised its holdings in MGIC Investment by 41.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,352 shares of the insurance provider’s stock worth $111,000 after buying an additional 1,281 shares during the period. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Price Performance

Shares of MTG opened at $23.62 on Friday. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 1.75 and a beta of 1.29. MGIC Investment Co. has a 1-year low of $18.68 and a 1-year high of $26.56. The company’s fifty day simple moving average is $24.55 and its 200 day simple moving average is $24.37. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.11. The business had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 earnings per share. On average, research analysts forecast that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 2.20%. MGIC Investment’s dividend payout ratio (DPR) is 18.31%.

Wall Street Analyst Weigh In

MTG has been the topic of several research analyst reports. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. 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. Keefe, Bruyette & Woods dropped their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MGIC Investment has an average 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.