Mutual of America Capital Management LLC lowered its holdings in shares of MGIC Investment Co. (NYSE:MTG – Get Rating) by 11.3% during the second quarter, Holdings Channel reports. The firm owned 259,028 shares of the insurance provider’s stock after selling 33,095 shares during the period. Mutual of America Capital Management LLC’s holdings in MGIC Investment were worth $3,264,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of MTG. Lazard Asset Management LLC bought a new position in MGIC Investment during the first quarter valued at about $26,000. Meeder Asset Management Inc. increased its holdings in shares of MGIC Investment by 87,240.0% during the 1st quarter. Meeder Asset Management Inc. now owns 4,367 shares of the insurance provider’s stock valued at $59,000 after acquiring an additional 4,362 shares during the last quarter. M&T Bank Corp acquired a new position in shares of MGIC Investment during the 2nd quarter valued at about $76,000. JJJ Advisors Inc. boosted its position in MGIC Investment by 122.7% during the first quarter. JJJ Advisors Inc. now owns 7,778 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 4,285 shares during the period. Finally, Van ECK Associates Corp grew its holdings in MGIC Investment by 15.9% during the first quarter. Van ECK Associates Corp now owns 8,097 shares of the insurance provider’s stock valued at $110,000 after purchasing an additional 1,112 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently issued reports on MTG shares. StockNews.com assumed coverage on shares of MGIC Investment in a report on Wednesday, October 12th. They set a “buy” rating for the company. Barclays decreased their price target on shares of MGIC Investment from $23.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, October 13th. Compass Point lowered MGIC Investment from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $14.50 in a research note on Tuesday, November 8th. Credit Suisse Group decreased their target price on MGIC Investment to $15.00 in a research note on Thursday, October 13th. Finally, Bank of America raised MGIC Investment from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Thursday, August 18th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.08.
MGIC Investment Stock Up 0.9 %
MGIC Investment Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Thursday, November 10th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $0.40 annualized dividend and a yield of 3.01%. MGIC Investment’s dividend payout ratio (DPR) is 14.98%.
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, 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.
- Get a free copy of the StockNews.com research report on MGIC Investment (MTG)
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