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

Mutual of America Capital Management LLC trimmed its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,105 shares of the insurance provider’s stock after selling 12,529 shares during the quarter. Mutual of America Capital Management LLC’s holdings in MGIC Investment were worth $3,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MTG. Dimensional Fund Advisors LP raised its position in shares of MGIC Investment by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider’s stock worth $326,375,000 after purchasing an additional 556,859 shares during the last quarter. WINTON GROUP Ltd lifted its position in shares of MGIC Investment by 440.3% in the second quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider’s stock valued at $11,228,000 after acquiring an additional 424,580 shares in the last quarter. Vest Financial LLC increased its position in shares of MGIC Investment by 22.7% during the second quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider’s stock worth $23,139,000 after purchasing an additional 198,553 shares in the last quarter. CX Institutional acquired a new position in MGIC Investment in the 3rd quarter valued at $4,911,000. Finally, Edgestream Partners L.P. boosted its stake in MGIC Investment by 153.9% during the 2nd quarter. Edgestream Partners L.P. now owns 244,980 shares of the insurance provider’s stock worth $5,279,000 after purchasing an additional 148,494 shares during the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MTG. Barclays boosted their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Roth Mkm upped their price target on MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada reduced their price objective on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Finally, BTIG Research upped their target price on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

MGIC Investment Stock Up 2.1 %

MTG stock opened at $25.49 on Friday. MGIC Investment Co. has a one year low of $17.31 and a one year high of $26.52. The firm has a market cap of $6.46 billion, a PE ratio of 8.98, a PEG ratio of 1.78 and a beta of 1.28. The firm’s 50 day moving average price is $25.19 and its 200-day moving average price is $23.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 14.99% and a net margin of 64.09%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, equities research analysts anticipate that MGIC Investment Co. will post 2.81 EPS for the current year.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.13 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 2.04%. MGIC Investment’s payout ratio is currently 18.31%.

MGIC Investment 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.