Financial Strategies Group Inc. Purchases 2,633 Shares of MGIC Investment Co. (NYSE:MTG)

Financial Strategies Group Inc. grew its position in shares of MGIC Investment Co. (NYSE:MTG) by 23.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,073 shares of the insurance provider’s stock after buying an additional 2,633 shares during the quarter. Financial Strategies Group Inc.’s holdings in MGIC Investment were worth $322,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MTG. Bank of Montreal Can grew its stake in MGIC Investment by 15.7% during the second quarter. Bank of Montreal Can now owns 68,034 shares of the insurance provider’s stock worth $1,467,000 after buying an additional 9,254 shares during the last quarter. Algert Global LLC bought a new stake in MGIC Investment during the second quarter worth about $585,000. Creative Planning grew its stake in MGIC Investment by 49.9% during the second quarter. Creative Planning now owns 17,924 shares of the insurance provider’s stock worth $386,000 after buying an additional 5,969 shares during the last quarter. NewEdge Advisors LLC grew its stake in MGIC Investment by 255.9% during the second quarter. NewEdge Advisors LLC now owns 42,549 shares of the insurance provider’s stock worth $917,000 after buying an additional 30,594 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in MGIC Investment during the second quarter worth about $622,000. 95.58% of the stock is owned by institutional investors.

MGIC Investment Trading Down 0.8 %

Shares of NYSE MTG opened at $25.51 on Monday. The company’s 50 day simple moving average is $24.55 and its 200 day simple moving average is $24.71. MGIC Investment Co. has a fifty-two week low of $18.68 and a fifty-two week high of $26.56. The firm has a market capitalization of $6.46 billion, a P/E ratio of 8.98, a P/E/G ratio of 2.02 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data 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. The business had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. MGIC Investment’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. On average, analysts predict that MGIC Investment Co. will post 2.85 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.04%. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MTG shares. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Barclays upped their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods reduced their target price 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. Finally, Royal Bank of Canada reduced their target price on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.86.

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.