Taika Capital LP bought a new stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 161,041 shares of the insurance provider's stock, valued at approximately $4,123,000. MGIC Investment comprises about 3.1% of Taika Capital LP's holdings, making the stock its 16th biggest position. Taika Capital LP owned 0.06% of MGIC Investment at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of MTG. GAMMA Investing LLC boosted its holdings in shares of MGIC Investment by 76.2% in the second quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider's stock valued at $66,000 after purchasing an additional 1,328 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of MGIC Investment by 7.7% in the second quarter. QRG Capital Management Inc. now owns 15,152 shares of the insurance provider's stock valued at $327,000 after purchasing an additional 1,081 shares during the period. SG Americas Securities LLC purchased a new stake in shares of MGIC Investment in the second quarter valued at approximately $355,000. Diversified Trust Co purchased a new stake in MGIC Investment during the second quarter worth $377,000. Finally, Financial Strategies Group Inc. purchased a new stake in MGIC Investment during the second quarter worth $224,000. Hedge funds and other institutional investors own 95.58% of the company's stock.
Shares of MTG opened at $25.70 on Friday. MGIC Investment Co. has a 12 month low of $17.42 and a 12 month high of $26.56. The stock has a fifty day moving average price of $25.30 and a 200-day moving average price of $23.83. 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 market cap of $6.51 billion, a PE ratio of 9.05, a P/E/G ratio of 1.85 and a beta of 1.27.
MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.66 by $0.11. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The firm had revenue of $306.65 million during the quarter, compared to analyst estimates of $306.03 million. During the same quarter in the prior year, the business posted $0.64 EPS. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts predict that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Thursday, November 7th. MGIC Investment's payout ratio is 18.31%.
A number of analysts have weighed in on MTG shares. Royal Bank of Canada lowered their target price 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. Barclays upped their target price on MGIC Investment from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $25.50.
Read Our Latest Research Report on MTG
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.
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