MGIC Investment Co. (NYSE:MTG) Stock Holdings Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in MGIC Investment Co. (NYSE:MTG) by 21.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 628,439 shares of the insurance provider’s stock after selling 167,488 shares during the quarter. Thrivent Financial for Lutherans owned 0.25% of MGIC Investment worth $14,901,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. UMB Bank n.a. grew its position in MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after buying an additional 938 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of MGIC Investment by 102.1% in the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 918 shares in the last quarter. V Square Quantitative Management LLC increased its stake in shares of MGIC Investment by 61.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 794 shares during the period. EverSource Wealth Advisors LLC raised its holdings in MGIC Investment by 21.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 419 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in MGIC Investment in the third quarter worth approximately $69,000. 95.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was 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 directly owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MTG shares. Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. UBS Group boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Compass Point reaffirmed a “neutral” rating and issued a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Barclays increased their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods decreased their target price on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.75.

MGIC Investment Stock Down 0.8 %

NYSE:MTG opened at $23.52 on Friday. MGIC Investment Co. has a 1-year low of $19.26 and a 1-year high of $26.56. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 8.11 and a beta of 1.28. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average price is $24.29 and its 200 day moving average price is $24.69.

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

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

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.