MGIC Investment Co. (NYSE:MTG) Position Trimmed by Clearbridge Investments LLC

Clearbridge Investments LLC decreased its holdings in MGIC Investment Co. (NYSE:MTG) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,832,677 shares of the insurance provider’s stock after selling 167,614 shares during the quarter. Clearbridge Investments LLC’s holdings in MGIC Investment were worth $114,583,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of MGIC Investment by 21.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 419 shares during the period. Xponance Inc. raised its holdings in MGIC Investment by 1.3% during the 4th quarter. Xponance Inc. now owns 35,320 shares of the insurance provider’s stock worth $837,000 after buying an additional 442 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in shares of MGIC Investment by 1.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider’s stock worth $897,000 after buying an additional 579 shares during the period. US Bancorp DE increased its position in shares of MGIC Investment by 6.2% in the fourth quarter. US Bancorp DE now owns 10,249 shares of the insurance provider’s stock worth $243,000 after acquiring an additional 600 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of MGIC Investment by 6.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider’s stock valued at $248,000 after acquiring an additional 608 shares during the period. Institutional investors own 95.58% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the transaction, the chief accounting officer now owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.05% of the company’s stock.

MGIC Investment Stock Performance

Shares of MTG stock opened at $24.41 on Monday. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56. The stock’s 50-day moving average is $24.34 and its two-hundred day moving average is $24.67. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The firm has a market cap of $5.92 billion, a P/E ratio of 8.42 and a beta of 1.28.

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

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s dividend payout ratio is presently 17.93%.

Analyst Ratings Changes

MTG has been the subject of a number of recent analyst reports. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods decreased their target price on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. UBS Group lifted their price target on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Compass Point restated a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Finally, Barclays upped their target price on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $26.75.

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.