New York State Teachers Retirement System Lowers Stake in MGIC Investment Co. (NYSE:MTG)

New York State Teachers Retirement System lowered its position in shares of MGIC Investment Co. (NYSE:MTG) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 316,703 shares of the insurance provider’s stock after selling 4,269 shares during the period. New York State Teachers Retirement System’s holdings in MGIC Investment were worth $8,108,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue increased its holdings in MGIC Investment by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock valued at $3,858,000 after acquiring an additional 540 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of MGIC Investment by 1.6% in the second quarter. Nations Financial Group Inc. IA ADV now owns 35,306 shares of the insurance provider’s stock worth $761,000 after purchasing an additional 565 shares during the last quarter. Fortem Financial Group LLC increased its holdings in shares of MGIC Investment by 1.0% in the second quarter. Fortem Financial Group LLC now owns 75,447 shares of the insurance provider’s stock worth $1,626,000 after purchasing an additional 747 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of MGIC Investment by 482.7% in the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 946 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of MGIC Investment by 7.7% in the second quarter. QRG Capital Management Inc. now owns 15,152 shares of the insurance provider’s stock worth $327,000 after purchasing an additional 1,081 shares during the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Down 0.2 %

Shares of NYSE:MTG opened at $23.52 on Tuesday. MGIC Investment Co. has a 1 year low of $17.25 and a 1 year high of $26.52. The business has a 50 day simple moving average of $25.28 and a two-hundred day simple moving average of $23.14. The firm has a market capitalization of $6.10 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.11 and a quick ratio of 1.11.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a $0.13 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.21%. MGIC Investment’s payout ratio is 19.19%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MTG shares. Barclays lifted their price target on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. BTIG Research lifted their price target on MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Roth Mkm lifted their price target on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

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.