MGIC Investment Co. (NYSE:MTG) Shares Sold by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda decreased its holdings in MGIC Investment Co. (NYSE:MTG) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,729 shares of the insurance provider’s stock after selling 678 shares during the period. Kapitalo Investimentos Ltda’s holdings in MGIC Investment were worth $303,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in MGIC Investment by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,412,645 shares of the insurance provider’s stock valued at $278,023,000 after purchasing an additional 553,155 shares in the last quarter. First Trust Advisors LP lifted its stake in MGIC Investment by 3.6% in the fourth quarter. First Trust Advisors LP now owns 12,067,181 shares of the insurance provider’s stock worth $232,776,000 after acquiring an additional 415,628 shares during the last quarter. LSV Asset Management grew its holdings in MGIC Investment by 3.7% during the 4th quarter. LSV Asset Management now owns 10,808,716 shares of the insurance provider’s stock worth $208,500,000 after acquiring an additional 381,151 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of MGIC Investment by 2.1% in the 4th quarter. Clearbridge Investments LLC now owns 5,868,480 shares of the insurance provider’s stock valued at $113,203,000 after purchasing an additional 121,828 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in MGIC Investment by 30.3% in the third quarter. AQR Capital Management LLC now owns 4,233,477 shares of the insurance provider’s stock valued at $70,657,000 after buying an additional 985,512 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Performance

NYSE:MTG remained flat at $20.86 during mid-day trading on Tuesday. 124,945 shares of the company were exchanged, compared to its average volume of 1,895,608. MGIC Investment Co. has a 1 year low of $15.02 and a 1 year high of $22.43. The firm’s fifty day moving average price is $20.59 and its 200 day moving average price is $20.05. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 8.02, a price-to-earnings-growth ratio of 6.89 and a beta of 1.24. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.60 by $0.05. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. The business had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $301.62 million. During the same period last year, the firm earned $0.54 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that MGIC Investment Co. will post 2.52 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Thursday, May 9th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.21%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.69%.

Wall Street Analyst Weigh In

MTG has been the topic of a number of recent analyst reports. UBS Group increased their target price on shares of MGIC Investment from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods upgraded shares of MGIC Investment from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $24.00 to $25.00 in a research note on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.83.

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.