Guggenheim Capital LLC Reduces Holdings in MGIC Investment Co. (NYSE:MTG)

Guggenheim Capital LLC trimmed its position in shares of MGIC Investment Co. (NYSE:MTG – Get Rating) by 57.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 61,963 shares of the insurance provider’s stock after selling 85,278 shares during the quarter. Guggenheim Capital LLC’s holdings in MGIC Investment were worth $794,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MTG. Lazard Asset Management LLC purchased a new stake in shares of MGIC Investment during the first quarter valued at $26,000. Wipfli Financial Advisors LLC purchased a new stake in shares of MGIC Investment during the third quarter valued at $62,000. M&T Bank Corp purchased a new stake in shares of MGIC Investment during the second quarter valued at $76,000. Janiczek Wealth Management LLC boosted its stake in shares of MGIC Investment by 71.5% during the third quarter. Janiczek Wealth Management LLC now owns 8,374 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 3,491 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of MGIC Investment by 9.9% during the third quarter. Van ECK Associates Corp now owns 8,930 shares of the insurance provider’s stock valued at $114,000 after purchasing an additional 804 shares during the period. 96.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MGIC Investment news, Director Gary A. Poliner sold 8,296 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $13.92, for a total value of $115,480.32. Following the completion of the transaction, the director now directly owns 8,821 shares in the company, valued at $122,788.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.79% of the stock is currently owned by corporate insiders.

MGIC Investment Stock Down 0.1 %

NYSE:MTG opened at $13.81 on Thursday. MGIC Investment Co. has a 1-year low of $11.38 and a 1-year high of $15.76. The company has a 50-day moving average of $13.66 and a 200 day moving average of $13.52. The firm has a market cap of $4.01 billion, a PE ratio of 4.95, a price-to-earnings-growth ratio of 1.30 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.65 and a quick ratio of 0.65.

MGIC Investment (NYSE:MTG – Get Rating) last announced its earnings results on Thursday, February 2nd. The insurance provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $292.25 million during the quarter, compared to the consensus estimate of $295.17 million. MGIC Investment had a net margin of 73.79% and a return on equity of 19.71%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. As a group, research analysts anticipate that MGIC Investment Co. will post 2.12 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Friday, February 17th were issued a $0.10 dividend. The ex-dividend date was Thursday, February 16th. This represents a $0.40 dividend on an annualized basis and a yield of 2.90%. MGIC Investment’s dividend payout ratio is presently 14.34%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Roth Capital reissued a “buy” rating on shares of MGIC Investment in a research note on Thursday, February 2nd. StockNews.com raised shares of MGIC Investment from a “hold” rating to a “buy” rating in a research note on Thursday, March 2nd. Finally, Barclays lowered shares of MGIC Investment from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $16.00 to $14.00 in a research note on Friday, January 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, MGIC Investment presently has an average rating of “Moderate Buy” and an average target price of $15.75.

MGIC Investment Profile

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MGIC Investment Corp. is a holding company, which engages in the provision of mortgage insurance, other mortgage credit risk management solutions, and ancillary services. The company was founded by Max Karl in 1957 and is headquartered in Milwaukee, WI.