Victory Capital Management Inc. Sells 38,411 Shares of MGIC Investment Co. (NYSE:MTG)

Victory Capital Management Inc. lessened its position in MGIC Investment Co. (NYSE:MTGGet Rating) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,679,660 shares of the insurance provider’s stock after selling 38,411 shares during the quarter. Victory Capital Management Inc.’s holdings in MGIC Investment were worth $34,353,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. DGS Capital Management LLC lifted its holdings in shares of MGIC Investment by 7.1% in the 2nd quarter. DGS Capital Management LLC now owns 11,998 shares of the insurance provider’s stock worth $151,000 after acquiring an additional 799 shares during the last quarter. Van ECK Associates Corp increased its stake in MGIC Investment by 9.9% in the 3rd quarter. Van ECK Associates Corp now owns 8,930 shares of the insurance provider’s stock worth $114,000 after buying an additional 804 shares during the period. Balasa Dinverno & Foltz LLC increased its stake in MGIC Investment by 3.8% in the 3rd quarter. Balasa Dinverno & Foltz LLC now owns 28,197 shares of the insurance provider’s stock worth $361,000 after buying an additional 1,020 shares during the period. Yousif Capital Management LLC increased its stake in MGIC Investment by 0.7% in the 2nd quarter. Yousif Capital Management LLC now owns 179,154 shares of the insurance provider’s stock worth $2,257,000 after buying an additional 1,290 shares during the period. Finally, Xponance Inc. increased its stake in MGIC Investment by 4.2% in the 2nd quarter. Xponance Inc. now owns 36,832 shares of the insurance provider’s stock worth $464,000 after buying an additional 1,493 shares during the period. Institutional investors own 96.95% of the company’s stock.

Analyst Ratings Changes

MTG has been the topic of several recent analyst reports. Compass Point downgraded shares of MGIC Investment from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $19.00 to $14.50 in a research note on Tuesday, November 8th. StockNews.com initiated coverage on shares of MGIC Investment in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Barclays downgraded shares of MGIC Investment from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $16.00 to $14.00 in a research note on Friday, January 6th. Finally, Credit Suisse Group reduced their price target on shares of MGIC Investment to $15.00 in a research note on Thursday, October 13th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.75.

MGIC Investment Trading Up 0.7 %

NYSE MTG opened at $13.72 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 5.14, a price-to-earnings-growth ratio of 1.20 and a beta of 1.36. The company’s 50-day simple moving average is $13.16 and its two-hundred day simple moving average is $13.55. MGIC Investment Co. has a one year low of $11.38 and a one year high of $16.41.

MGIC Investment (NYSE:MTGGet Rating) last posted its earnings results on Wednesday, November 2nd. The insurance provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.31. The business had revenue of $296.06 million for the quarter, compared to the consensus estimate of $322.19 million. MGIC Investment had a net margin of 72.18% and a return on equity of 19.66%. Equities analysts forecast that MGIC Investment Co. will post 2.86 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Thursday, November 10th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Wednesday, November 9th. MGIC Investment’s dividend payout ratio is currently 14.98%.

MGIC Investment Profile

(Get Rating)

MGIC Investment Corp. is a private mortgage insurer that serves lenders throughout the United States, and Puerto Rico. It also provides lenders with underwriting and other services and products related to home mortgage lending through its subsidiaries, such as Mortgage Guaranty Insurance Corp. and MGIC Indemnity Corp.

Featured Articles

Want to see what other hedge funds are holding MTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGIC Investment Co. (NYSE:MTGGet Rating).

Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

Receive News & Ratings for MGIC Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGIC Investment and related companies with MarketBeat.com's FREE daily email newsletter.