MGIC Investment Co. (NYSE:MTG) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its stake in shares of MGIC Investment Co. (NYSE:MTG) by 5.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 93,045 shares of the insurance provider’s stock after selling 5,451 shares during the period. Yousif Capital Management LLC’s holdings in MGIC Investment were worth $2,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of MGIC Investment in the third quarter valued at about $13,535,000. Assenagon Asset Management S.A. purchased a new stake in shares of MGIC Investment in the 4th quarter valued at approximately $8,362,000. Barclays PLC increased its holdings in shares of MGIC Investment by 75.1% during the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider’s stock worth $11,716,000 after buying an additional 196,252 shares during the last quarter. CX Institutional purchased a new stake in shares of MGIC Investment during the 3rd quarter valued at approximately $4,911,000. Finally, Taika Capital LP purchased a new position in MGIC Investment in the third quarter worth approximately $4,123,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and cut their target price for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Barclays boosted their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Compass Point reaffirmed a “neutral” rating and set a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Royal Bank of Canada dropped their price target on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.25.

MGIC Investment Trading Down 0.9 %

NYSE MTG opened at $25.03 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 2.01 and a beta of 1.29. The firm has a 50 day simple moving average of $24.47 and a 200-day simple moving average of $24.78. MGIC Investment Co. has a one year low of $18.92 and a one year high of $26.56.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Equities research analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s dividend payout ratio is currently 17.93%.

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.