Oregon Public Employees Retirement Fund Reduces Stock Position in MGIC Investment Co. (NYSE:MTG)

Oregon Public Employees Retirement Fund lowered its position in shares of MGIC Investment Co. (NYSE:MTGGet Rating) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,626 shares of the insurance provider’s stock after selling 1,474 shares during the period. Oregon Public Employees Retirement Fund’s holdings in MGIC Investment were worth $1,136,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Great West Life Assurance Co. Can boosted its position in MGIC Investment by 13.5% during the 3rd quarter. Great West Life Assurance Co. Can now owns 373,874 shares of the insurance provider’s stock valued at $4,782,000 after buying an additional 44,407 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of MGIC Investment in the 3rd quarter worth about $386,000. New York State Teachers Retirement System lifted its position in shares of MGIC Investment by 9.6% in the 3rd quarter. New York State Teachers Retirement System now owns 332,283 shares of the insurance provider’s stock worth $4,260,000 after purchasing an additional 29,210 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in shares of MGIC Investment in the 3rd quarter worth about $186,000. Finally, Van ECK Associates Corp lifted its position in shares of MGIC Investment by 9.9% in the 3rd quarter. Van ECK Associates Corp now owns 8,930 shares of the insurance provider’s stock worth $114,000 after purchasing an additional 804 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MTG shares. Compass Point cut shares of MGIC Investment from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $14.50 in a research report on Tuesday, November 8th. Barclays cut shares of MGIC Investment from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $16.00 to $14.00 in a research report on Friday, January 6th. StockNews.com started coverage on shares of MGIC Investment in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Credit Suisse Group dropped their target price on shares of MGIC Investment to $15.00 in a research report on Thursday, October 13th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.75.

MGIC Investment Stock Up 0.7 %

Shares of MGIC Investment stock opened at $13.72 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.50 and a quick ratio of 0.50. The company has a 50-day moving average of $13.16 and a 200 day moving average of $13.55. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 5.14, a PEG ratio of 1.20 and a beta of 1.36. MGIC Investment Co. has a 1 year low of $11.38 and a 1 year high of $16.41.

MGIC Investment (NYSE:MTGGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.31. The company had revenue of $296.06 million during the quarter, compared to analyst estimates of $322.19 million. MGIC Investment had a net margin of 72.18% and a return on equity of 19.66%. As a group, sell-side analysts anticipate that MGIC Investment Co. will post 2.86 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Thursday, November 10th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $0.40 dividend on an annualized basis and a yield of 2.92%. MGIC Investment’s dividend payout ratio is currently 14.98%.

MGIC Investment Profile

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MGIC Investment Corp. is a private mortgage insurer that serves lenders throughout the United States, and Puerto Rico. It also provides lenders with underwriting and other services and products related to home mortgage lending through its subsidiaries, such as Mortgage Guaranty Insurance Corp. and MGIC Indemnity Corp.

Further Reading

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

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