Nordea Investment Management AB Cuts Position in MGIC Investment Corporation $MTG

Nordea Investment Management AB lowered its holdings in MGIC Investment Corporation (NYSE:MTG) by 12.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 388,444 shares of the insurance provider’s stock after selling 54,688 shares during the quarter. Nordea Investment Management AB’s holdings in MGIC Investment were worth $11,412,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in MGIC Investment during the first quarter worth about $2,397,000. Goldman Sachs Group Inc. increased its holdings in MGIC Investment by 6.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,103,366 shares of the insurance provider’s stock valued at $76,901,000 after buying an additional 195,895 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in MGIC Investment by 88.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,745 shares of the insurance provider’s stock valued at $43,000 after buying an additional 817 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of MGIC Investment during the 2nd quarter valued at approximately $425,000. Finally, Creative Planning lifted its position in shares of MGIC Investment by 51.3% during the 2nd quarter. Creative Planning now owns 36,131 shares of the insurance provider’s stock valued at $1,006,000 after acquiring an additional 12,249 shares during the period. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

MGIC Investment Trading Up 0.4%

Shares of MTG stock opened at $26.00 on Thursday. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 2.06 and a beta of 0.83. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $26.50 and a 200 day moving average price of $27.59. MGIC Investment Corporation has a twelve month low of $21.94 and a twelve month high of $29.97.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Monday, February 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. MGIC Investment’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. Research analysts forecast that MGIC Investment Corporation will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.60 dividend on an annualized basis and a yield of 2.3%. MGIC Investment’s dividend payout ratio (DPR) is 19.11%.

Insider Buying and Selling

In other MGIC Investment news, EVP Paula C. Maggio sold 20,000 shares of MGIC Investment stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $27.51, for a total value of $550,200.00. Following the completion of the sale, the executive vice president directly owned 114,689 shares of the company’s stock, valued at approximately $3,155,094.39. The trade was a 14.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Mattke sold 139,203 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $26.51, for a total value of $3,690,271.53. Following the completion of the transaction, the chief executive officer owned 822,588 shares of the company’s stock, valued at $21,806,807.88. This trade represents a 14.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 189,203 shares of company stock worth $5,058,572. 1.05% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MTG shares. Weiss Ratings cut MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Keefe, Bruyette & Woods lifted their price objective on MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Thursday, December 18th. UBS Group decreased their target price on MGIC Investment from $29.50 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Finally, Barclays dropped their price target on MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.00.

About MGIC Investment

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.