Securian Asset Management Inc. Sells 1,004 Shares of MGIC Investment Co. (NYSE:MTG)

Securian Asset Management Inc. decreased its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,154 shares of the insurance provider’s stock after selling 1,004 shares during the period. Securian Asset Management Inc.’s holdings in MGIC Investment were worth $454,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC boosted its holdings in MGIC Investment by 190.8% in the third 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 in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of MGIC Investment during the third quarter valued at about $635,000. KBC Group NV raised its stake in MGIC Investment by 16.4% in the third quarter. KBC Group NV now owns 7,386 shares of the insurance provider’s stock worth $189,000 after buying an additional 1,043 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in MGIC Investment in the third quarter worth about $202,000. Finally, Natixis Advisors LLC grew its holdings in shares of MGIC Investment by 38.2% during the 3rd quarter. Natixis Advisors LLC now owns 152,404 shares of the insurance provider’s stock worth $3,902,000 after acquiring an additional 42,088 shares during the period. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Trading Down 0.2 %

NYSE:MTG opened at $23.04 on Tuesday. MGIC Investment Co. has a 52 week low of $19.26 and a 52 week high of $26.56. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 7.95 and a beta of 1.28. The company’s 50 day moving average price is $24.28 and its 200-day moving average price is $24.74. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. On average, equities research analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is 17.93%.

Insider Buying and Selling at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.05% of the company’s stock.

Wall Street Analyst Weigh In

MTG has been the topic of several recent research reports. Barclays upped their price target on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $26.00 to $25.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods decreased their target price 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. UBS Group boosted their price target on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Compass Point reaffirmed a “neutral” rating and set a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, MGIC Investment has a consensus rating of “Hold” and a consensus price target of $26.75.

MGIC Investment Company 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.