Pictet Asset Management Holding SA Acquires 3,249 Shares of MGIC Investment Co. (NYSE:MTG)

Pictet Asset Management Holding SA boosted its holdings in MGIC Investment Co. (NYSE:MTG) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,327 shares of the insurance provider’s stock after buying an additional 3,249 shares during the period. Pictet Asset Management Holding SA’s holdings in MGIC Investment were worth $980,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in shares of MGIC Investment by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after purchasing an additional 98,369 shares during the period. Vestcor Inc lifted its stake in MGIC Investment by 559.3% in the third quarter. Vestcor Inc now owns 60,094 shares of the insurance provider’s stock valued at $1,538,000 after buying an additional 50,979 shares in the last quarter. Ritholtz Wealth Management lifted its stake in MGIC Investment by 13.4% in the fourth quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider’s stock valued at $2,174,000 after buying an additional 10,864 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of MGIC Investment by 33.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 40,398 shares of the insurance provider’s stock valued at $958,000 after buying an additional 10,130 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in MGIC Investment by 311.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 66,493 shares of the insurance provider’s stock worth $1,575,000 after purchasing an additional 50,316 shares in the last quarter. 95.58% of the stock is owned by institutional investors.

MGIC Investment Trading Down 5.1 %

MTG stock opened at $23.09 on Monday. MGIC Investment Co. has a 52 week low of $19.26 and a 52 week high of $26.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The company’s 50-day simple moving average is $24.33 and its 200 day simple moving average is $24.65. The company has a market capitalization of $5.60 billion, a PE ratio of 7.96 and a beta of 0.93.

MGIC Investment (NYSE:MTG) last announced its earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. As a group, sell-side analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.25%. MGIC Investment’s payout ratio is 17.93%.

Insider Buying and Selling

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the sale, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.05% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MTG shares. UBS Group lifted their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and cut their target price for the company from $26.00 to $25.00 in a research note on Monday, December 9th. Barclays increased their price target on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Compass Point reaffirmed a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, MGIC Investment currently has a consensus rating of “Hold” and a consensus target price of $26.75.

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.