Larson Financial Group LLC Buys 3,220 Shares of MGIC Investment Co. (NYSE:MTG)

Larson Financial Group LLC lifted its stake in MGIC Investment Co. (NYSE:MTG) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,432 shares of the insurance provider’s stock after purchasing an additional 3,220 shares during the period. Larson Financial Group LLC’s holdings in MGIC Investment were worth $2,699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its stake in MGIC Investment by 24.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 369,053 shares of the insurance provider’s stock valued at $8,132,000 after purchasing an additional 73,474 shares during the last quarter. GSA Capital Partners LLP raised its holdings in MGIC Investment by 154.1% in the 3rd quarter. GSA Capital Partners LLP now owns 96,732 shares of the insurance provider’s stock worth $2,476,000 after purchasing an additional 58,664 shares during the period. Edgestream Partners L.P. raised its holdings in MGIC Investment by 153.9% in the 2nd quarter. Edgestream Partners L.P. now owns 244,980 shares of the insurance provider’s stock worth $5,279,000 after purchasing an additional 148,494 shares during the period. Panagora Asset Management Inc. raised its holdings in MGIC Investment by 14.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 505,155 shares of the insurance provider’s stock worth $10,886,000 after purchasing an additional 65,315 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of MGIC Investment by 2.9% during the second quarter. Mackenzie Financial Corp now owns 879,674 shares of the insurance provider’s stock valued at $18,957,000 after acquiring an additional 24,627 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MTG shares. Royal Bank of Canada cut 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. Roth Mkm increased their price objective on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. BTIG Research raised their price target on MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Barclays lifted their target price on MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.50.

MGIC Investment Stock Performance

Shares of MTG opened at $25.50 on Monday. The company has a 50-day simple moving average of $25.19 and a 200-day simple moving average of $23.55. 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 market capitalization of $6.46 billion, a PE ratio of 8.98, a P/E/G ratio of 1.85 and a beta of 1.28. MGIC Investment Co. has a 52-week low of $17.31 and a 52-week high of $26.52.

MGIC Investment (NYSE:MTG) last posted 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 firm had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. During the same period last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts predict that MGIC Investment Co. will post 2.81 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently declared 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 of this dividend was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 2.04%. MGIC Investment’s dividend payout ratio (DPR) is 18.31%.

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.