Teachers Retirement System of The State of Kentucky Trims Stake in MGIC Investment Corporation $MTG

Teachers Retirement System of The State of Kentucky reduced its holdings in MGIC Investment Corporation (NYSE:MTG) by 33.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,329 shares of the insurance provider’s stock after selling 43,958 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in MGIC Investment were worth $2,506,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. True Wealth Design LLC grew its holdings in shares of MGIC Investment by 262.5% during the second quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 727 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in MGIC Investment during the third quarter valued at approximately $28,000. Hantz Financial Services Inc. grew its stake in MGIC Investment by 3,067.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock worth $30,000 after buying an additional 1,043 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of MGIC Investment by 61.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock worth $30,000 after buying an additional 395 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in shares of MGIC Investment during the 2nd quarter valued at $32,000. Institutional investors own 95.58% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on MTG shares. Barclays cut their target price on shares of 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. Weiss Ratings lowered shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of MGIC Investment from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, MGIC Investment has an average rating of “Hold” and a consensus price target of $28.00.

Insider Transactions at MGIC Investment

In other MGIC Investment news, CEO Timothy J. Mattke sold 139,203 shares of the stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $26.51, for a total value of $3,690,271.53. Following the completion of the sale, the chief executive officer owned 822,588 shares in the company, valued at approximately $21,806,807.88. This trade represents a 14.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Salvatore A. Miosi sold 30,000 shares of MGIC Investment stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $27.27, for a total value of $818,100.00. Following the completion of the sale, the chief operating officer owned 454,245 shares in the company, valued at approximately $12,387,261.15. This represents a 6.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 189,203 shares of company stock worth $5,058,572. Company insiders own 1.05% of the company’s stock.

MGIC Investment Stock Performance

NYSE:MTG opened at $26.90 on Thursday. The firm has a market cap of $5.78 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 2.12 and a beta of 0.83. MGIC Investment Corporation has a fifty-two week low of $21.94 and a fifty-two week high of $29.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.52 and a current ratio of 1.52. The business has a 50 day moving average price of $27.30 and a 200-day moving average price of $27.77.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, February 2nd. The insurance provider reported $0.75 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%. During the same period in the prior year, the business earned $0.72 EPS. The company’s revenue was down .9% compared to the same quarter last year. Equities research analysts predict that MGIC Investment Corporation will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, February 17th. MGIC Investment’s dividend payout ratio is 19.11%.

MGIC Investment Profile

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.