Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 1,187 Shares of MGIC Investment Co. (NYSE:MTG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in shares of MGIC Investment Co. (NYSE:MTG) by 2.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 55,957 shares of the insurance provider’s stock after selling 1,187 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in MGIC Investment were worth $1,327,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Teacher Retirement System of Texas increased its stake in MGIC Investment by 2.7% in the fourth quarter. Teacher Retirement System of Texas now owns 373,411 shares of the insurance provider’s stock valued at $8,854,000 after acquiring an additional 9,939 shares during the period. Xponance Inc. boosted its holdings in MGIC Investment by 1.3% during the fourth quarter. Xponance Inc. now owns 35,320 shares of the insurance provider’s stock valued at $837,000 after purchasing an additional 442 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of MGIC Investment by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,364,725 shares of the insurance provider’s stock valued at $32,358,000 after purchasing an additional 32,980 shares during the period. Corient Private Wealth LLC raised its holdings in shares of MGIC Investment by 1.5% in the 4th quarter. Corient Private Wealth LLC now owns 150,602 shares of the insurance provider’s stock worth $3,568,000 after buying an additional 2,210 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of MGIC Investment by 7.5% during the 4th quarter. Natixis Advisors LLC now owns 163,881 shares of the insurance provider’s stock worth $3,886,000 after buying an additional 11,477 shares during the period. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on MTG shares. Keefe, Bruyette & Woods lowered their price target on 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. Barclays upped their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. UBS Group increased their target price 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 restated a “neutral” rating and issued a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Finally, Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and cut their target price for the company from $26.00 to $25.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.75.

MGIC Investment Stock Performance

Shares of MGIC Investment stock opened at $24.30 on Wednesday. The firm has a 50 day simple moving average of $24.32 and a 200 day simple moving average of $24.67. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56. 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 firm has a market cap of $5.90 billion, a P/E ratio of 8.38 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last released its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. Sell-side analysts predict 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 dividend of $0.13 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.14%. MGIC Investment’s payout ratio is presently 17.93%.

Insider Activity

In other news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the transaction, the chief accounting officer now owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.05% of the company’s stock.

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.