Trexquant Investment LP Has $1.65 Million Position in MGIC Investment Co. (NYSE:MTG)

Trexquant Investment LP lowered its stake in shares of MGIC Investment Co. (NYSE:MTG – Get Rating) by 8.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,680 shares of the insurance provider’s stock after selling 11,921 shares during the period. Trexquant Investment LP’s holdings in MGIC Investment were worth $1,650,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp lifted its stake 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 valued at $114,000 after purchasing an additional 804 shares during the last quarter. Balasa Dinverno & Foltz LLC lifted its stake in shares of MGIC Investment by 3.8% in the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 28,197 shares of the insurance provider’s stock valued at $361,000 after purchasing an additional 1,020 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of MGIC Investment by 14.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,268 shares of the insurance provider’s stock valued at $167,000 after purchasing an additional 1,630 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of MGIC Investment by 13.1% in the 2nd quarter. Captrust Financial Advisors now owns 15,986 shares of the insurance provider’s stock valued at $201,000 after purchasing an additional 1,849 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of MGIC Investment in the 1st quarter valued at $26,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MTG. Barclays lowered shares of MGIC Investment from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $16.00 to $14.00 in a research note on Friday, January 6th. StockNews.com raised shares of MGIC Investment from a “hold” rating to a “buy” rating in a research report on Thursday, March 2nd. Finally, Roth Capital reissued a “buy” rating on shares of MGIC Investment in a research report on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, MGIC Investment currently has an average rating of “Moderate Buy” and an average target price of $15.75.

Insider Transactions at MGIC Investment

In other news, Director Gary A. Poliner sold 8,296 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $13.92, for a total transaction of $115,480.32. Following the transaction, the director now owns 8,821 shares in the company, valued at approximately $122,788.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.

MGIC Investment Stock Performance

NYSE:MTG opened at $12.90 on Monday. The firm’s 50-day moving average is $13.67 and its 200-day moving average is $13.48. MGIC Investment Co. has a 52-week low of $11.38 and a 52-week high of $15.76. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 4.62, a PEG ratio of 1.22 and a beta of 1.36.

MGIC Investment (NYSE:MTG – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The insurance provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. MGIC Investment had a net margin of 73.79% and a return on equity of 19.71%. The company had revenue of $292.25 million for the quarter, compared to the consensus estimate of $295.17 million. During the same quarter in the previous year, the firm posted $0.61 EPS. The business’s revenue was down .6% compared to the same quarter last year. Equities research analysts anticipate that MGIC Investment Co. will post 2.12 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 2nd. Stockholders of record on Friday, February 17th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, February 16th. This represents a $0.40 annualized dividend and a dividend yield of 3.10%. MGIC Investment’s payout ratio is 14.34%.

About MGIC Investment

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MGIC Investment Corp. is a holding company, which engages in the provision of mortgage insurance, other mortgage credit risk management solutions, and ancillary services. The company was founded by Max Karl in 1957 and is headquartered in Milwaukee, WI.