Lindenwold Advisors INC Has $379,000 Position in MGIC Investment Co. (NYSE:MTG)

Lindenwold Advisors INC decreased its holdings in MGIC Investment Co. (NYSE:MTG) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,000 shares of the insurance provider’s stock after selling 611 shares during the quarter. Lindenwold Advisors INC’s holdings in MGIC Investment were worth $379,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. bought a new position in MGIC Investment during the third quarter worth about $635,000. KBC Group NV lifted its position in shares of MGIC Investment by 16.4% during the 3rd 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 during the period. CIBC Asset Management Inc acquired a new stake in MGIC Investment in the 3rd quarter valued at $202,000. Natixis Advisors LLC grew its position in MGIC Investment by 38.2% in the third quarter. Natixis Advisors LLC now owns 152,404 shares of the insurance provider’s stock valued at $3,902,000 after acquiring an additional 42,088 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in MGIC Investment by 369.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 57,722 shares of the insurance provider’s stock worth $1,478,000 after acquiring an additional 45,419 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction on Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the sale, the chief accounting officer now owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.05% of the stock is currently owned by insiders.

MGIC Investment Stock Performance

MTG stock opened at $23.18 on Wednesday. The stock has a market capitalization of $5.63 billion, a PE ratio of 7.99 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The company has a 50 day moving average price of $24.28 and a 200 day moving average price of $24.72. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (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%. Analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s dividend payout ratio is 17.93%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MTG shares. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their target price for the company from $26.00 to $25.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods reduced their price target on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. 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 report on Wednesday, February 5th. Barclays boosted their target price on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, UBS Group raised their price target on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, MGIC Investment currently has a consensus rating of “Hold” and an average price target of $26.75.

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.