Metis Global Partners LLC Sells 1,334 Shares of MGIC Investment Co. (NYSE:MTG)

Metis Global Partners LLC reduced its stake in MGIC Investment Co. (NYSE:MTG) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,403 shares of the insurance provider’s stock after selling 1,334 shares during the quarter. Metis Global Partners LLC’s holdings in MGIC Investment were worth $247,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hara Capital LLC bought a new stake in MGIC Investment in the 3rd quarter valued at $25,000. UMB Bank n.a. lifted its position in MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 938 shares in the last quarter. Venturi Wealth Management LLC lifted its position in MGIC Investment by 102.1% in the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 918 shares in the last quarter. V Square Quantitative Management LLC lifted its position in MGIC Investment by 61.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 794 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in MGIC Investment during the 3rd quarter worth about $69,000. 95.58% of the stock is owned by institutional investors.

Insider Activity at MGIC Investment

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and cut their price target for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Barclays boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Compass Point reissued a “neutral” rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods cut 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 report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.75.

MGIC Investment Stock Down 0.7 %

MGIC Investment stock opened at $23.59 on Friday. The firm has a market capitalization of $5.72 billion, a PE ratio of 8.13 and a beta of 1.29. The company’s 50-day moving average is $24.38 and its 200-day moving average is $24.81. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share 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%. Sell-side analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.20%. MGIC Investment’s dividend payout ratio (DPR) is currently 17.93%.

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.