Robeco Institutional Asset Management B.V. Sells 65,177 Shares of MGIC Investment Co. (NYSE:MTG)

Robeco Institutional Asset Management B.V. reduced its position in shares of MGIC Investment Co. (NYSE:MTG) by 7.5% in the third quarter, Holdings Channel reports. The firm owned 798,454 shares of the insurance provider’s stock after selling 65,177 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in MGIC Investment were worth $20,440,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MTG. Vident Advisory LLC raised its holdings in MGIC Investment by 21.1% in the 1st quarter. Vident Advisory LLC now owns 212,660 shares of the insurance provider’s stock worth $4,755,000 after acquiring an additional 37,030 shares during the last quarter. LSV Asset Management raised its stake in shares of MGIC Investment by 1.6% in the first quarter. LSV Asset Management now owns 10,983,325 shares of the insurance provider’s stock worth $245,587,000 after purchasing an additional 174,609 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of MGIC Investment by 31.7% during the first quarter. Sei Investments Co. now owns 496,778 shares of the insurance provider’s stock valued at $11,108,000 after purchasing an additional 119,476 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of MGIC Investment by 110.9% during the first quarter. Janney Montgomery Scott LLC now owns 61,539 shares of the insurance provider’s stock valued at $1,376,000 after buying an additional 32,358 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of MGIC Investment by 24.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 369,053 shares of the insurance provider’s stock valued at $8,132,000 after buying an additional 73,474 shares during the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

MGIC Investment Stock Up 4.1 %

MTG opened at $24.82 on Thursday. The firm’s 50 day simple moving average is $25.25 and its two-hundred day simple moving average is $23.17. The company has a market capitalization of $6.43 billion, a PE ratio of 8.74, a PEG ratio of 1.25 and a beta of 1.28. MGIC Investment Co. has a 1-year low of $17.25 and a 1-year high of $26.52. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last released its earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.11. The company had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a return on equity of 15.14% and a net margin of 64.09%. MGIC Investment’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, equities analysts forecast that MGIC Investment Co. will post 2.76 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently announced 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. This represents a $0.52 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, November 7th. MGIC Investment’s dividend payout ratio is 18.31%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. BTIG Research upped their target price on shares of MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Barclays increased their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Roth Mkm lifted their target price on shares of MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their target price on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.50.

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.