By otakuyassine3@gmail.com 
Mutual of America Capital Management LLC trimmed its position in shares of MGIC Investment Co. (NYSE:MTG – Free Report) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,838 shares of the insurance provider’s stock after selling 6,267 shares during the period. Mutual of America Capital Management LLC’s holdings in MGIC Investment were worth $3,173,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV increased its stake in shares of MGIC Investment by 1.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider’s stock worth $897,000 after purchasing an additional 579 shares during the last quarter. Lindenwold Advisors INC grew its holdings in MGIC Investment by 3.7% during the third quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider’s stock worth $425,000 after purchasing an additional 592 shares during the period. Inspire Investing LLC increased its position in MGIC Investment by 4.8% during the fourth quarter. Inspire Investing LLC now owns 16,883 shares of the insurance provider’s stock worth $400,000 after buying an additional 766 shares during the last quarter. V Square Quantitative Management LLC raised its stake in MGIC Investment by 61.9% in the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after buying an additional 794 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in shares of MGIC Investment by 102.1% in the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after buying an additional 918 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on MTG shares. Keefe, Bruyette & Woods decreased their target price on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. UBS Group increased their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Bank of America downgraded 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 report on Monday, December 9th. Compass Point reissued a “neutral” rating and issued a $27.00 price target (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Finally, Barclays raised their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.75.
Read Our Latest Stock Report on MGIC Investment
Insider Activity
In other news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the transaction, the chief accounting officer now directly owns 75,070 shares in the company, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.05% of the stock is currently owned by corporate insiders.
MGIC Investment Stock Performance
NYSE MTG opened at $23.59 on Friday. MGIC Investment Co. has a 12-month low of $19.26 and a 12-month high of $26.56. The firm has a 50-day moving average price of $24.38 and a two-hundred day moving average price of $24.81. The company has a market capitalization of $5.72 billion, a P/E ratio of 8.13 and a beta of 1.29. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12.
MGIC Investment (NYSE:MTG – Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. Analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.
MGIC Investment Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were issued a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.20%. MGIC Investment’s dividend payout ratio (DPR) is currently 17.93%.
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.
Further Reading
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