MGIC Investment Co. (NYSE:MTG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in MGIC Investment Co. (NYSE:MTG) by 6.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,779 shares of the insurance provider’s stock after selling 12,098 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of MGIC Investment worth $3,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in MGIC Investment by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 37,980,396 shares of the insurance provider’s stock valued at $486,909,000 after purchasing an additional 2,137,706 shares in the last quarter. BlackRock Inc. raised its position in shares of MGIC Investment by 0.5% during the 1st quarter. BlackRock Inc. now owns 27,872,353 shares of the insurance provider’s stock worth $377,670,000 after acquiring an additional 127,008 shares in the last quarter. First Trust Advisors LP raised its position in shares of MGIC Investment by 450.2% during the 1st quarter. First Trust Advisors LP now owns 14,943,450 shares of the insurance provider’s stock worth $200,541,000 after acquiring an additional 12,227,328 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of MGIC Investment by 2.3% during the 1st quarter. JPMorgan Chase & Co. now owns 14,350,838 shares of the insurance provider’s stock worth $192,588,000 after acquiring an additional 328,140 shares in the last quarter. Finally, State Street Corp raised its position in shares of MGIC Investment by 0.5% during the 3rd quarter. State Street Corp now owns 10,524,110 shares of the insurance provider’s stock worth $134,919,000 after acquiring an additional 54,611 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analyst Ratings Changes

MTG has been the topic of several research analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $24.00 target price (up previously from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Royal Bank of Canada raised their target price on MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, Roth Mkm raised their target price on MGIC Investment from $21.00 to $24.00 and gave the stock 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.08.

MGIC Investment Trading Down 0.6 %

NYSE:MTG opened at $19.38 on Thursday. The stock’s 50 day moving average price is $20.33 and its 200 day moving average price is $18.99. The company has a market capitalization of $5.23 billion, a PE ratio of 7.78, a P/E/G ratio of 1.61 and a beta of 1.24. 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 52-week low of $13.97 and a 52-week high of $22.43.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The firm 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%. On average, research analysts anticipate that MGIC Investment Co. will post 2.43 EPS for the current year.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Thursday, February 15th were paid a $0.115 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.46 annualized dividend and a dividend yield of 2.37%. MGIC Investment’s dividend payout ratio (DPR) is currently 18.47%.

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.