MGIC Investment Co. (NYSE:MTG) Shares Sold by Xponance Inc.

Xponance Inc. cut its stake in MGIC Investment Co. (NYSE:MTG) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,412 shares of the insurance provider’s stock after selling 1,138 shares during the period. Xponance Inc.’s holdings in MGIC Investment were worth $741,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of MGIC Investment by 47.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 100,258 shares of the insurance provider’s stock worth $1,934,000 after purchasing an additional 32,450 shares in the last quarter. DGS Capital Management LLC grew its stake in shares of MGIC Investment by 2.2% in the fourth quarter. DGS Capital Management LLC now owns 64,895 shares of the insurance provider’s stock worth $1,252,000 after purchasing an additional 1,417 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of MGIC Investment by 5.1% in the fourth quarter. Mackenzie Financial Corp now owns 908,046 shares of the insurance provider’s stock worth $17,516,000 after purchasing an additional 44,259 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of MGIC Investment in the fourth quarter worth $1,503,000. Finally, NewEdge Wealth LLC grew its stake in shares of MGIC Investment by 8.8% in the fourth quarter. NewEdge Wealth LLC now owns 1,444,931 shares of the insurance provider’s stock worth $27,873,000 after purchasing an additional 117,301 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Trading Up 0.6 %

Shares of MTG stock opened at $20.48 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. MGIC Investment Co. has a fifty-two week low of $13.97 and a fifty-two week high of $22.43. The stock has a market capitalization of $5.52 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.68 and a beta of 1.24. The stock has a 50-day simple moving average of $20.45 and a 200 day simple moving average of $19.13.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share for the quarter, beating 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 business had revenue of $284.72 million during the quarter, compared to analyst estimates of $302.96 million. On average, sell-side analysts expect that MGIC Investment Co. will post 2.43 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Thursday, May 9th will be given a $0.115 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.25%. MGIC Investment’s dividend payout ratio (DPR) is 18.47%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $24.00 target price (up previously from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Roth Mkm raised their target price on MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada raised their target price on MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.