MGIC Investment Co. (NYSE:MTG) Shares Sold by Trexquant Investment LP

Trexquant Investment LP reduced its stake in MGIC Investment Co. (NYSE:MTGFree Report) by 88.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,551 shares of the insurance provider’s stock after selling 116,638 shares during the period. Trexquant Investment LP’s holdings in MGIC Investment were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of MGIC Investment by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,412,645 shares of the insurance provider’s stock worth $278,023,000 after acquiring an additional 553,155 shares during the period. LSV Asset Management lifted its stake in shares of MGIC Investment by 3.7% in the 4th quarter. LSV Asset Management now owns 10,808,716 shares of the insurance provider’s stock worth $208,500,000 after acquiring an additional 381,151 shares during the period. Clearbridge Investments LLC lifted its stake in shares of MGIC Investment by 2.1% in the 4th quarter. Clearbridge Investments LLC now owns 5,868,480 shares of the insurance provider’s stock worth $113,203,000 after acquiring an additional 121,828 shares during the period. AQR Capital Management LLC lifted its stake in shares of MGIC Investment by 30.3% in the 3rd quarter. AQR Capital Management LLC now owns 4,233,477 shares of the insurance provider’s stock worth $70,657,000 after acquiring an additional 985,512 shares during the period. Finally, FMR LLC lifted its stake in shares of MGIC Investment by 26.7% in the 3rd quarter. FMR LLC now owns 3,829,710 shares of the insurance provider’s stock worth $63,918,000 after acquiring an additional 807,637 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on MTG shares. Keefe, Bruyette & Woods raised shares of MGIC Investment from a “market perform” rating to an “outperform” rating and increased their target price for the company from $24.00 to $25.00 in a research note on Monday. UBS Group increased their target price on shares of MGIC Investment from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.83.

View Our Latest Stock Analysis on MTG

MGIC Investment Stock Down 1.0 %

Shares of NYSE:MTG opened at $21.15 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $5.64 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 7.10 and a beta of 1.24. MGIC Investment Co. has a 52 week low of $15.02 and a 52 week high of $22.43. The firm has a 50 day simple moving average of $20.71 and a 200 day simple moving average of $19.84.

MGIC Investment (NYSE:MTGGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.60 by $0.05. The business had revenue of $294.40 million during the quarter, compared to the consensus estimate of $301.62 million. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. As a group, research analysts expect that MGIC Investment Co. will post 2.51 earnings per share for the current year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Thursday, May 9th were given a $0.115 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.46 annualized dividend and a dividend yield of 2.17%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.69%.

MGIC Investment Company Profile

(Free Report)

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.

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

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