As of the first quarter of this year, Brandywine Global Investment Management LLC has increased its stake in MGIC Investment Co. by 4.8%, according to a recent filing with the Securities & Exchange Commission (SEC). The investment management firm now owns 773,417 shares of the insurance provider’s stock, having purchased an additional 35,426 shares during the quarter. This represents approximately 0.27% of MGIC Investment’s total worth which equates to $10,379,000 as of their most recent SEC filing.
These developments come following the release of MGIC Investment’s earnings report on August 2nd. The insurance provider reported earnings per share (EPS) of $0.68 for the quarter, surpassing analysts’ consensus estimates by $0.13. This positive performance can be attributed to a net margin of 67.83% and a return on equity of 17.26%. However, despite beating expectations on EPS, the company experienced a slight decline in revenue with $290.70 million for the quarter compared to analysts’ projected amount of $292.51 million. Furthermore, when compared to the same quarter from last year, MGIC Investment’s revenue saw a decrease of 0.8%.
In light of these results and trends within the industry, sell-side analysts anticipate that MGIC Investment Co.’s earnings per share for this current year will reach approximately $2.36.
The increase in Brandywine Global Investment Management LLC’s position in MGIC Investment signifies their confidence in the company’s financial prospects and overall performance in the market. As one of many investment firms closely monitoring these developments within the insurance industry, it is important to stay updated on such analyses and evaluations.
To access more detailed analysis and further insights into MGIC Investment Co., please visit our website where you can find our latest reports on this company and more.
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Institutional Investors and Hedge Funds Show Interest in MGIC Investment (MTG): A Detailed Analysis
Institutional investors and hedge funds have recently made significant changes to their positions in MGIC Investment (MTG). Lazard Asset Management LLC acquired a new stake in the insurance provider during the 1st quarter, investing $26,000. Belpointe Asset Management LLC and Lakewood Asset Management LLC also purchased new stakes during the 4th quarter, worth $33,000 and $34,000 respectively. Furthermore, Ronald Blue Trust Inc. boosted its position in MGIC Investment by 253.8% during the 1st quarter, now owning 3,043 shares valued at $40,000. IFP Advisors Inc also increased its position by 39.2% during the 4th quarter, now holding 3,786 shares worth $41,000. It is worth noting that institutional investors and hedge funds currently own 93.41% of MTG’s stock.
On Thursday, MTG opened at $17.12 with a quick ratio and current ratio of 0.66 each. Additionally, the company has a debt-to-equity ratio of 0.14. Looking at its moving averages over different time periods, MTG has a 50-day average price of $17.05 and a 200-day average price of $15.33.
Over the past year, MTG has experienced highs and lows in its stock price; with its lowest point being $12.13 per share while reaching a peak of $18.25 per share on a fifty-two week basis. With these numbers in mind along with other factors like market capitalization and fundamentals such as price-to-earnings ratio (P/E), which stands at 6.48 for MTG – we see that there are multiple elements contributing to this perplexing situation.
The firm recently announced an increase in their quarterly dividend payment which was paid on August 24th to shareholders of record as of August 10th. The dividend, which was raised from $0.10 to $0.115 per share, represents an annualized dividend payment of $0.46 and a yield of 2.69%. This boosted dividend payout ratio (DPR), currently at 17.42%, implies that MGIC Investment is returning more profits to its shareholders.
Various research reports have been conducted on MTG, shedding light on the company’s prospects and future potential as an investment. StockNews.com began coverage on MGIC Investment with a “hold” rating on August 17th, while Royal Bank of Canada increased their price target from $17.00 to $18.00 and gave the stock a “sector perform” rating on August 4th. Compass Point also raised its price target from $18.00 to $20.00 in a research report published on August 3rd. Currently, Bloomberg indicates that MGIC Investment has an average rating of “Hold” and a consensus target price of $16.75.
As we analyze these intricate details surrounding MGIC Investment Co., one cannot help but be perplexed by the bustiness displayed through shifting institutional positions as well as fluctuating market prices. It is advisable for potential investors to carefully consider these factors alongside extensive research before making any investment decisions related to MTG stock.