MGIC Investment Co. (NYSE:MTG) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC decreased its position in shares of MGIC Investment Co. (NYSE:MTG) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,027,061 shares of the insurance provider’s stock after selling 29,422 shares during the period. Brandywine Global Investment Management LLC owned about 0.41% of MGIC Investment worth $24,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in MGIC Investment by 6.5% during the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock worth $41,836,000 after purchasing an additional 98,369 shares during the period. Vestcor Inc grew its holdings in shares of MGIC Investment by 559.3% in the third quarter. Vestcor Inc now owns 60,094 shares of the insurance provider’s stock valued at $1,538,000 after purchasing an additional 50,979 shares in the last quarter. Ritholtz Wealth Management increased its stake in MGIC Investment by 13.4% during the 4th quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider’s stock worth $2,174,000 after buying an additional 10,864 shares during the period. Janney Montgomery Scott LLC lifted its holdings in MGIC Investment by 33.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 40,398 shares of the insurance provider’s stock worth $958,000 after buying an additional 10,130 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in MGIC Investment by 311.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 66,493 shares of the insurance provider’s stock valued at $1,575,000 after buying an additional 50,316 shares during the period. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on MTG. Barclays upped their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. 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 note on Wednesday, February 19th. Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods reduced their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. Finally, Compass Point reiterated a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, MGIC Investment has a consensus rating of “Hold” and a consensus target price of $26.75.

MGIC Investment Stock Down 1.7 %

MGIC Investment stock opened at $24.41 on Monday. The company has a market capitalization of $5.92 billion, a P/E ratio of 8.42 and a beta of 1.28. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56. The stock has a 50-day simple moving average of $24.34 and a 200-day simple moving average of $24.67. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48.

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 net margin of 63.18% and a return on equity of 14.86%. Equities research analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

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

Insider Transactions at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This represents a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.