Jupiter Asset Management Ltd. Purchases 19,784 Shares of MGIC Investment Co. (NYSE:MTG)

Jupiter Asset Management Ltd. boosted its stake in MGIC Investment Co. (NYSE:MTGFree Report) by 68.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,522 shares of the insurance provider’s stock after purchasing an additional 19,784 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in MGIC Investment were worth $810,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MTG. Beacon Pointe Advisors LLC lifted its stake in shares of MGIC Investment by 5.4% in the second quarter. Beacon Pointe Advisors LLC now owns 12,303 shares of the insurance provider’s stock valued at $194,000 after buying an additional 633 shares in the last quarter. Avantax Planning Partners Inc. lifted its stake in shares of MGIC Investment by 6.8% in the third quarter. Avantax Planning Partners Inc. now owns 11,543 shares of the insurance provider’s stock valued at $193,000 after buying an additional 734 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of MGIC Investment by 5.3% in the first quarter. Stifel Financial Corp now owns 18,064 shares of the insurance provider’s stock valued at $242,000 after buying an additional 902 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of MGIC Investment by 6.6% in the third quarter. Captrust Financial Advisors now owns 17,046 shares of the insurance provider’s stock valued at $219,000 after buying an additional 1,060 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its stake in shares of MGIC Investment by 6.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 17,666 shares of the insurance provider’s stock valued at $237,000 after buying an additional 1,106 shares in the last quarter. 93.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on MTG shares. Royal Bank of Canada raised their price objective on shares of MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Roth Mkm raised their price objective on shares of MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Barclays initiated coverage on shares of MGIC Investment in a research report on Wednesday, November 15th. They set an “equal weight” rating and a $19.00 price target on the stock. Finally, UBS Group initiated coverage on shares of MGIC Investment in a research report on Wednesday, December 6th. They set a “neutral” rating and a $18.50 price target on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.50.

Get Our Latest Analysis on MTG

MGIC Investment Stock Up 0.7 %

MTG opened at $19.07 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.61 and a quick ratio of 0.63. The company’s 50-day moving average is $19.21 and its 200 day moving average is $17.96. MGIC Investment Co. has a fifty-two week low of $12.15 and a fifty-two week high of $20.26. The firm has a market capitalization of $5.29 billion, a P/E ratio of 7.66, a PEG ratio of 1.58 and a beta of 1.24.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 5th. Shareholders of record on Thursday, February 15th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, February 14th. MGIC Investment’s dividend payout ratio is 18.47%.

MGIC Investment Company Profile

(Free Report)

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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Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

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