NDVR Inc. Acquires 975 Shares of MGIC Investment Co. (NYSE:MTG)

NDVR Inc. boosted its holdings in MGIC Investment Co. (NYSE:MTG) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,180 shares of the insurance provider’s stock after purchasing an additional 975 shares during the period. NDVR Inc.’s holdings in MGIC Investment were worth $289,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP raised its stake in MGIC Investment by 22.4% in the fourth quarter. First Trust Advisors LP now owns 16,008,489 shares of the insurance provider’s stock worth $379,561,000 after buying an additional 2,928,595 shares in the last quarter. LSV Asset Management boosted its holdings in MGIC Investment by 2.3% in the fourth quarter. LSV Asset Management now owns 10,578,342 shares of the insurance provider’s stock worth $250,812,000 after purchasing an additional 235,916 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in MGIC Investment by 8.2% in the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider’s stock worth $130,289,000 after purchasing an additional 415,586 shares during the last quarter. Invesco Ltd. boosted its holdings in MGIC Investment by 16.6% in the fourth quarter. Invesco Ltd. now owns 4,766,195 shares of the insurance provider’s stock worth $113,006,000 after purchasing an additional 677,227 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in MGIC Investment by 6.5% in the fourth quarter. Northern Trust Corp now owns 4,524,277 shares of the insurance provider’s stock worth $107,271,000 after purchasing an additional 277,746 shares during the last quarter. 95.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now owns 75,070 shares in the company, valued at $1,842,968.50. This represents a 5.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MTG. Barclays raised their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their target price on shares of MGIC Investment from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. UBS Group lifted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Compass Point reaffirmed a “neutral” rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.50.

MGIC Investment Price Performance

MGIC Investment stock opened at $26.58 on Tuesday. The company’s 50 day simple moving average is $24.20 and its 200-day simple moving average is $24.46. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 9.16 and a beta of 0.91. MGIC Investment Co. has a 1 year low of $20.11 and a 1 year high of $27.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. The company had revenue of $306.23 million for the quarter, compared to the consensus estimate of $306.66 million. During the same period in the prior year, the firm posted $0.65 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment announced that its board has approved a stock buyback program on Thursday, April 24th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the insurance provider to buy up to 12.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

MGIC Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Thursday, May 8th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Thursday, May 8th. MGIC Investment’s dividend payout ratio is currently 17.28%.

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.