MGIC Investment Co. (NYSE:MTG) Shares Bought by Bragg Financial Advisors Inc

Bragg Financial Advisors Inc increased its stake in MGIC Investment Co. (NYSE:MTG) by 0.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 907,220 shares of the insurance provider’s stock after acquiring an additional 2,966 shares during the quarter. Bragg Financial Advisors Inc’s holdings in MGIC Investment were worth $21,510,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Barclays PLC increased its stake in MGIC Investment by 75.1% in the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider’s stock worth $11,716,000 after purchasing an additional 196,252 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of MGIC Investment by 395.8% in the third quarter. Sanctuary Advisors LLC now owns 150,637 shares of the insurance provider’s stock worth $3,841,000 after acquiring an additional 120,257 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of MGIC Investment during the third quarter valued at approximately $619,000. Franklin Resources Inc. lifted its position 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 acquiring an additional 98,369 shares in the last quarter. Finally, DGS Capital Management LLC boosted its stake in MGIC Investment by 6.2% in the 3rd quarter. DGS Capital Management LLC now owns 85,797 shares of the insurance provider’s stock worth $2,196,000 after purchasing an additional 4,974 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MTG shares. Barclays increased their target price on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. UBS Group lifted their target price on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods reduced their price target on shares of MGIC Investment from $28.00 to $26.00 and set a “market perform” rating for the company in a research report on Tuesday, April 8th. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.50.

MGIC Investment Stock Up 3.1 %

Shares of MGIC Investment stock opened at $23.93 on Friday. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 8.25 and a beta of 0.93. The stock has a 50-day simple moving average of $24.01 and a 200-day simple moving average of $24.55. 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 current ratio of 0.48 and a quick ratio of 1.25.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. On average, equities research analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s dividend payout ratio is presently 17.93%.

Insiders Place Their Bets

In other news, CAO Julie K. Sperber sold 4,600 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the sale, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.05% of the company’s stock.

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.