Waterloo Capital L.P. Reduces Stake in MGIC Investment Co. (NYSE:MTG)

Waterloo Capital L.P. lessened its position in shares of MGIC Investment Co. (NYSE:MTG) by 14.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,854 shares of the insurance provider’s stock after selling 6,150 shares during the quarter. Waterloo Capital L.P.’s holdings in MGIC Investment were worth $874,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MTG. Verition Fund Management LLC lifted its stake in shares of MGIC Investment by 96.4% in the 3rd quarter. Verition Fund Management LLC now owns 22,500 shares of the insurance provider’s stock worth $576,000 after purchasing an additional 11,046 shares during the period. Quantinno Capital Management LP raised its position in MGIC Investment by 50.7% in the third quarter. Quantinno Capital Management LP now owns 104,392 shares of the insurance provider’s stock worth $2,672,000 after acquiring an additional 35,125 shares during the period. State Street Corp raised its position in MGIC Investment by 0.8% in the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock worth $232,767,000 after acquiring an additional 73,851 shares during the period. Weiss Asset Management LP bought a new stake in shares of MGIC Investment during the 3rd quarter valued at $2,907,000. Finally, Jane Street Group LLC grew its position in shares of MGIC Investment by 3.7% during the 3rd quarter. Jane Street Group LLC now owns 373,569 shares of the insurance provider’s stock valued at $9,563,000 after acquiring an additional 13,397 shares during the period. Institutional investors own 95.58% of the company’s stock.

Insider Buying and Selling at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the 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 transaction, the chief accounting officer now directly owns 75,070 shares in the company, valued at approximately $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 can be accessed through the SEC website. 1.05% of the stock is currently owned by company insiders.

MGIC Investment Trading Down 5.1 %

MGIC Investment stock opened at $23.09 on Monday. MGIC Investment Co. has a 1 year low of $19.26 and a 1 year high of $26.56. The firm’s 50 day moving average price is $24.33 and its 200-day moving average price is $24.65. 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 stock has a market cap of $5.60 billion, a P/E ratio of 7.96 and a beta of 0.93.

MGIC Investment (NYSE:MTG) last announced its quarterly 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%. On average, equities analysts predict that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s payout ratio is presently 17.93%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and lowered their target price for the company from $26.00 to $25.00 in a research report on Monday, December 9th. 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 increased their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Compass Point reaffirmed 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. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MGIC Investment currently has a consensus rating of “Hold” and an average target price of $26.75.

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.