Strs Ohio Sells 14,896 Shares of MGIC Investment Co. (NYSE:MTG)

Strs Ohio lowered its position in shares of MGIC Investment Co. (NYSE:MTG) by 9.4% during the fourth quarter, HoldingsChannel reports. The fund owned 144,109 shares of the insurance provider’s stock after selling 14,896 shares during the quarter. Strs Ohio’s holdings in MGIC Investment were worth $2,779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in MGIC Investment during the 1st quarter worth $26,000. Blue Trust Inc. grew its position in shares of MGIC Investment by 49.2% in the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock valued at $50,000 after buying an additional 849 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of MGIC Investment in the 4th quarter valued at about $66,000. Industrial Alliance Investment Management Inc. grew its position in shares of MGIC Investment by 374.0% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 3,925 shares of the insurance provider’s stock valued at $51,000 after buying an additional 3,097 shares during the last quarter. Finally, Janiczek Wealth Management LLC grew its position in shares of MGIC Investment by 29.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 5,572 shares of the insurance provider’s stock valued at $107,000 after buying an additional 1,269 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Up 1.0 %

Shares of NYSE:MTG opened at $19.58 on Friday. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 1.60 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. The business’s 50-day moving average is $20.34 and its 200-day moving average is $18.99. MGIC Investment Co. has a 1 year low of $13.97 and a 1 year high of $22.43.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $284.72 million for the quarter, compared to the consensus estimate of $302.96 million. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. Equities research analysts predict that MGIC Investment Co. will post 2.43 earnings per share for the current 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. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Wednesday, February 14th. MGIC Investment’s dividend payout ratio is 18.47%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MTG. Royal Bank of Canada upped their price target 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $24.00 price target (up previously from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Finally, Roth Mkm upped their price target on MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, MGIC Investment presently has an average rating of “Hold” and a consensus target price of $21.08.

MGIC Investment 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.