MGIC Investment Corporation $MTG Stock Position Cut by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. decreased its stake in shares of MGIC Investment Corporation (NYSE:MTG) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,101 shares of the insurance provider’s stock after selling 2,783 shares during the period. Ameritas Investment Partners Inc.’s holdings in MGIC Investment were worth $1,283,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of MGIC Investment by 13.4% in the second quarter. JPMorgan Chase & Co. now owns 18,331,120 shares of the insurance provider’s stock valued at $510,338,000 after acquiring an additional 2,168,940 shares in the last quarter. LSV Asset Management boosted its stake in MGIC Investment by 2.9% during the 1st quarter. LSV Asset Management now owns 10,888,437 shares of the insurance provider’s stock valued at $269,815,000 after purchasing an additional 310,095 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of MGIC Investment by 40.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 5,398,356 shares of the insurance provider’s stock valued at $150,290,000 after purchasing an additional 1,557,970 shares during the period. AQR Capital Management LLC increased its position in shares of MGIC Investment by 22.5% during the 1st quarter. AQR Capital Management LLC now owns 3,291,645 shares of the insurance provider’s stock valued at $80,481,000 after purchasing an additional 605,342 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of MGIC Investment by 6.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,103,366 shares of the insurance provider’s stock worth $76,901,000 after buying an additional 195,895 shares in the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other MGIC Investment news, CEO Timothy J. Mattke sold 139,203 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $27.09, for a total transaction of $3,771,009.27. Following the sale, the chief executive officer directly owned 961,791 shares of the company’s stock, valued at $26,054,918.19. The trade was a 12.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Salvatore A. Miosi sold 30,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $27.52, for a total value of $825,600.00. Following the completion of the sale, the chief operating officer owned 159,401 shares of the company’s stock, valued at $4,386,715.52. The trade was a 15.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 219,203 shares of company stock worth $5,989,909 over the last 90 days. 1.05% of the stock is owned by company insiders.

MGIC Investment Trading Down 0.2%

Shares of NYSE MTG opened at $28.38 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.13. MGIC Investment Corporation has a 12 month low of $21.94 and a 12 month high of $29.01. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 1.91 and a beta of 0.92. The business has a fifty day simple moving average of $27.72 and a 200-day simple moving average of $27.22.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Wednesday, October 29th. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. The firm had revenue of $304.51 million for the quarter, compared to analysts’ expectations of $308.16 million. MGIC Investment had a return on equity of 14.63% and a net margin of 61.96%.MGIC Investment’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. Sell-side analysts predict that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. MGIC Investment’s payout ratio is currently 19.29%.

Analysts Set New Price Targets

MTG has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of MGIC Investment in a research note on Wednesday, October 8th. Barclays upped their price target on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “cautious” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.80.

About MGIC Investment

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.