Centiva Capital LP increased its position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 224.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,388 shares of the insurance provider's stock after buying an additional 23,097 shares during the quarter. Centiva Capital LP's holdings in MGIC Investment were worth $855,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Paloma Partners Management Co acquired a new stake in shares of MGIC Investment during the 3rd quarter worth approximately $574,000. Erste Asset Management GmbH bought a new position in MGIC Investment in the third quarter worth $594,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in MGIC Investment during the third quarter worth $13,535,000. Verition Fund Management LLC increased its holdings in MGIC Investment by 96.4% in the 3rd quarter. Verition Fund Management LLC now owns 22,500 shares of the insurance provider's stock valued at $576,000 after buying an additional 11,046 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MGIC Investment by 9.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,168 shares of the insurance provider's stock valued at $1,796,000 after buying an additional 6,138 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors.
Shares of MGIC Investment stock opened at $25.70 on Friday. The stock has a market capitalization of $6.51 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 1.85 and a beta of 1.27. MGIC Investment Co. has a 12-month low of $17.42 and a 12-month high of $26.56. 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 50-day simple moving average of $25.30 and a 200 day simple moving average of $23.83.
MGIC Investment (NYSE:MTG - Get Free Report) last posted its earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The company had revenue of $306.65 million during the quarter, compared to analysts' expectations of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. MGIC Investment's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. Research analysts expect that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.13 per share. 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 presently 18.31%.
Several brokerages have recently weighed in on MTG. Royal Bank of Canada decreased 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. Barclays lifted their price objective 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $25.50.
View Our Latest Stock Analysis 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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