Cozad Asset Management Inc. Lowers Stock Position in MGIC Investment Co. (NYSE:MTG)

Cozad Asset Management Inc. decreased its holdings in MGIC Investment Co. (NYSE:MTG) by 15.0% in the 3rd quarter, Holdings Channel reports. The firm owned 76,642 shares of the insurance provider’s stock after selling 13,553 shares during the period. Cozad Asset Management Inc.’s holdings in MGIC Investment were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of MTG. Foster & Motley Inc. increased its stake in MGIC Investment by 2.1% in the third quarter. Foster & Motley Inc. now owns 220,805 shares of the insurance provider’s stock valued at $5,653,000 after purchasing an additional 4,516 shares during the period. Van ECK Associates Corp increased its position in MGIC Investment by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 161,376 shares of the insurance provider’s stock valued at $4,099,000 after acquiring an additional 46,112 shares during the period. Janney Montgomery Scott LLC raised its stake in MGIC Investment by 190.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 30,268 shares of the insurance provider’s stock valued at $775,000 after acquiring an additional 19,861 shares during the last quarter. James Investment Research Inc. lifted its position in MGIC Investment by 7.1% during the 3rd quarter. James Investment Research Inc. now owns 78,825 shares of the insurance provider’s stock worth $2,018,000 after acquiring an additional 5,200 shares during the period. Finally, Vanguard Capital Wealth Advisors purchased a new position in shares of MGIC Investment in the 3rd quarter valued at approximately $448,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Stock Performance

Shares of MTG opened at $24.56 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13. MGIC Investment Co. has a 52-week low of $17.25 and a 52-week high of $26.52. The company has a 50-day simple moving average of $25.24 and a 200-day simple moving average of $23.18. The company has a market capitalization of $6.37 billion, a PE ratio of 8.65, a P/E/G ratio of 1.25 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. The company had revenue of $306.65 million during the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 15.14%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. Equities research analysts predict that MGIC Investment Co. will post 2.76 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is 18.31%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MTG. Royal Bank of Canada cut their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday. BTIG Research upped their price objective on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Roth Mkm lifted their target price on shares of MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Barclays increased their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MGIC Investment presently has an average rating of “Moderate Buy” and a consensus target price of $25.50.

MGIC Investment Profile

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.