Mutual of America Capital Management LLC Has $3.31 Million Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Mutual of America Capital Management LLC lessened its holdings in MGIC Investment Co. (NYSE:MTG) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 171,779 shares of the insurance provider’s stock after selling 12,098 shares during the period. Mutual of America Capital Management LLC’s holdings in MGIC Investment were worth $3,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of MGIC Investment by 6.0% in the third quarter. Vanguard Group Inc. now owns 37,980,396 shares of the insurance provider’s stock worth $486,909,000 after buying an additional 2,137,706 shares during the period. BlackRock Inc. boosted its position in shares of MGIC Investment by 0.5% in the first quarter. BlackRock Inc. now owns 27,872,353 shares of the insurance provider’s stock worth $377,670,000 after buying an additional 127,008 shares during the period. First Trust Advisors LP boosted its position in MGIC Investment by 450.2% during the first quarter. First Trust Advisors LP now owns 14,943,450 shares of the insurance provider’s stock valued at $200,541,000 after purchasing an additional 12,227,328 shares during the last quarter. JPMorgan Chase & Co. boosted its position in MGIC Investment by 2.3% during the first quarter. JPMorgan Chase & Co. now owns 14,350,838 shares of the insurance provider’s stock valued at $192,588,000 after purchasing an additional 328,140 shares during the last quarter. Finally, State Street Corp boosted its position in MGIC Investment by 0.5% during the third quarter. State Street Corp now owns 10,524,110 shares of the insurance provider’s stock valued at $134,919,000 after purchasing an additional 54,611 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Price Performance

Shares of NYSE:MTG opened at $19.38 on Thursday. MGIC Investment Co. has a fifty-two week low of $13.97 and a fifty-two week high of $22.43. The business has a 50-day moving average of $20.33 and a two-hundred day moving average of $18.99. The stock has a market capitalization of $5.23 billion, a P/E ratio of 7.78, a P/E/G ratio of 1.61 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. The company had revenue of $284.72 million during the quarter, compared to analysts’ expectations of $302.96 million. On average, equities research analysts predict that MGIC Investment Co. will post 2.43 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Thursday, February 15th were paid a $0.115 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.37%. MGIC Investment’s payout ratio is presently 18.47%.

Analyst Ratings Changes

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

MGIC Investment Company Profile

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.