Federated Hermes Inc. Has $807,000 Stock Position in MGIC Investment Co. (NYSE:MTG)

Federated Hermes Inc. reduced its position in shares of MGIC Investment Co. (NYSE:MTG) by 25.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,858 shares of the insurance provider’s stock after selling 14,440 shares during the quarter. Federated Hermes Inc.’s holdings in MGIC Investment were worth $807,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in MGIC Investment by 49.2% during the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock worth $50,000 after buying an additional 849 shares during the period. Planned Solutions Inc. purchased a new stake in shares of MGIC Investment in the fourth quarter worth approximately $66,000. Janiczek Wealth Management LLC raised its stake in shares of MGIC Investment by 29.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 5,572 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 1,269 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of MGIC Investment in the third quarter worth approximately $100,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of MGIC Investment in the third quarter worth approximately $170,000. 95.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on MTG. Royal Bank of Canada increased their price objective on MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $24.00 target price (up from $23.50) on shares of MGIC Investment in a report on Thursday, April 4th. Finally, Roth Mkm upped their target price on MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.08.

MGIC Investment Stock Performance

MTG stock opened at $20.54 on Thursday. The firm has a market cap of $5.54 billion, a PE ratio of 8.25, a P/E/G ratio of 1.69 and a beta of 1.24. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $20.52 and a 200-day moving average of $19.21. MGIC Investment Co. has a 12-month low of $13.97 and a 12-month high of $22.43.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. The business had revenue of $284.72 million during the quarter, compared to analyst estimates of $302.96 million. As a group, sell-side analysts expect that MGIC Investment Co. will post 2.43 earnings per share for the current year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 2.24%. The ex-dividend date is Wednesday, May 8th. MGIC Investment’s dividend payout ratio (DPR) is 18.47%.

About MGIC Investment

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.