MGIC Investment Co. (NYSE:MTG) Stock Position Lowered by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in shares of MGIC Investment Co. (NYSE:MTG) by 2.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,957 shares of the insurance provider’s stock after selling 1,187 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in MGIC Investment were worth $1,327,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings 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 valued at $55,000 after buying an additional 419 shares in the last quarter. Xponance Inc. boosted its position 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 acquiring an additional 442 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in shares of MGIC Investment by 1.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider’s stock valued at $897,000 after purchasing an additional 579 shares during the period. US Bancorp DE increased its holdings in shares of MGIC Investment by 6.2% in the 4th quarter. US Bancorp DE now owns 10,249 shares of the insurance provider’s stock valued at $243,000 after purchasing an additional 600 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of MGIC Investment by 6.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider’s stock worth $248,000 after purchasing an additional 608 shares in the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Performance

MTG opened at $24.30 on Wednesday. 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 company has a market cap of $5.90 billion, a PE ratio of 8.38 and a beta of 1.28. The stock has a 50-day moving average of $24.32 and a 200-day moving average of $24.67. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56.

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

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were issued a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.14%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MTG shares. Compass Point reiterated a “neutral” rating and issued a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods dropped 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. UBS Group lifted their price objective on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Barclays boosted their target price on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Bank of America downgraded 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 note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.75.

Insiders Place Their Bets

In related news, CAO Julie K. Sperber sold 4,600 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.05% of the company’s stock.

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.