Teachers Retirement System of The State of Kentucky Has $4.38 Million Holdings in MGIC Investment Co. (NYSE:MTG)

Teachers Retirement System of The State of Kentucky lessened its position in shares of MGIC Investment Co. (NYSE:MTG) by 18.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,732 shares of the insurance provider’s stock after selling 45,717 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of MGIC Investment worth $4,376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MTG. GAMMA Investing LLC acquired a new stake in MGIC Investment in the 4th quarter valued at $30,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in MGIC Investment in the 4th quarter valued at $31,000. Quarry LP boosted its stake in MGIC Investment by 244.4% in the 4th quarter. Quarry LP now owns 1,977 shares of the insurance provider’s stock valued at $38,000 after buying an additional 1,403 shares in the last quarter. CWM LLC boosted its stake in MGIC Investment by 249.1% in the 1st quarter. CWM LLC now owns 2,175 shares of the insurance provider’s stock valued at $49,000 after buying an additional 1,552 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in MGIC Investment in the 1st quarter valued at $50,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analyst Ratings Changes

MTG has been the subject of several research analyst reports. Barclays lifted their price objective on MGIC Investment from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday. Keefe, Bruyette & Woods upgraded MGIC Investment from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $25.00 in a research report on Monday, June 3rd. UBS Group lifted their price objective on MGIC Investment from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd. Finally, Roth Mkm lifted their price objective on MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $23.50.

MGIC Investment Trading Down 1.5 %

Shares of MTG stock traded down $0.37 on Friday, reaching $24.14. 2,724,839 shares of the stock were exchanged, compared to its average volume of 1,719,740. The stock has a market cap of $6.26 billion, a PE ratio of 9.28, a P/E/G ratio of 3.02 and a beta of 1.28. MGIC Investment Co. has a one year low of $16.30 and a one year high of $25.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.11 and a quick ratio of 1.05. The stock has a 50 day moving average price of $22.03 and a 200 day moving average price of $20.90.

MGIC Investment (NYSE:MTG) last released its earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15. The company had revenue of $305.28 million during the quarter, compared to the consensus estimate of $301.02 million. MGIC Investment had a return on equity of 14.97% and a net margin of 63.19%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 earnings per share. Equities research analysts forecast that MGIC Investment Co. will post 2.54 EPS for the current fiscal year.

MGIC Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Thursday, August 8th. This is an increase from MGIC Investment’s previous quarterly dividend of $0.12. MGIC Investment’s dividend payout ratio is currently 17.69%.

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.