MGIC Investment Co. (NYSE:MTG) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its holdings in shares of MGIC Investment Co. (NYSE:MTGFree Report) by 6.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 300,000 shares of the insurance provider’s stock after selling 19,053 shares during the period. California State Teachers Retirement System’s holdings in MGIC Investment were worth $5,787,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. lifted its position in MGIC Investment by 4.1% in the fourth quarter. QRG Capital Management Inc. now owns 14,703 shares of the insurance provider’s stock worth $284,000 after purchasing an additional 584 shares during the period. Asset Management One Co. Ltd. lifted its position in MGIC Investment by 2.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 39,747 shares of the insurance provider’s stock worth $774,000 after purchasing an additional 812 shares during the period. Blue Trust Inc. lifted its position in MGIC Investment by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 849 shares during the period. Signaturefd LLC lifted its position in MGIC Investment by 4.0% in the fourth quarter. Signaturefd LLC now owns 22,162 shares of the insurance provider’s stock worth $428,000 after purchasing an additional 862 shares during the period. Finally, Janiczek Wealth Management LLC lifted its position in MGIC Investment by 29.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 5,572 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 1,269 shares during the period. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Price Performance

NYSE MTG opened at $20.82 on Tuesday. The stock has a market capitalization of $5.55 billion, a P/E ratio of 8.01, a P/E/G ratio of 7.05 and a beta of 1.24. MGIC Investment Co. has a 1 year low of $15.02 and a 1 year high of $22.43. The business’s fifty day moving average is $20.62 and its two-hundred day moving average is $19.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 1.05.

MGIC Investment (NYSE:MTGGet Free Report) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.60 by $0.05. The business had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $301.62 million. MGIC Investment had a return on equity of 15.00% and a net margin of 62.85%. MGIC Investment’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 earnings per share. On average, research analysts forecast that MGIC Investment Co. will post 2.52 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Thursday, May 9th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Wednesday, May 8th. MGIC Investment’s payout ratio is presently 17.69%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MTG. UBS Group upped their target price on MGIC Investment from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods raised MGIC Investment from a “market perform” rating to an “outperform” rating and upped their price target for the company from $24.00 to $25.00 in a report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, MGIC Investment currently has a consensus rating of “Hold” and a consensus target price of $21.83.

Get Our Latest Stock Report on MTG

MGIC Investment Profile

(Free Report)

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.

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

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