MGIC Investment Co. (NYSE:MTG) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its holdings in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 60.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,885 shares of the insurance provider's stock after selling 71,933 shares during the quarter. AlphaQuest LLC's holdings in MGIC Investment were worth $1,112,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec purchased a new position in MGIC Investment in the 3rd quarter valued at about $13,535,000. Allianz Asset Management GmbH raised its holdings in shares of MGIC Investment by 8.2% during the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock valued at $130,289,000 after acquiring an additional 415,586 shares during the last quarter. Amundi purchased a new position in shares of MGIC Investment in the fourth quarter valued at approximately $8,914,000. Vest Financial LLC boosted its stake in shares of MGIC Investment by 33.4% in the fourth quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider's stock worth $35,213,000 after acquiring an additional 371,882 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of MGIC Investment during the fourth quarter worth approximately $8,362,000. 95.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment 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 completion of the transaction, the chief accounting officer now directly owns 75,070 shares in the company, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.57% of the company's stock.

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MGIC Investment Trading Down 0.5 %

Shares of MGIC Investment stock traded down $0.12 during mid-day trading on Thursday, hitting $22.48. The stock had a trading volume of 2,852,855 shares, compared to its average volume of 1,790,568. The firm has a market cap of $5.46 billion, a P/E ratio of 7.75 and a beta of 1.28. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $24.33 and a two-hundred day moving average of $24.79. MGIC Investment Co. has a 12-month low of $19.26 and a 12-month high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Sell-side analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were given a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.31%. MGIC Investment's dividend payout ratio is presently 17.93%.

Analysts Set New Price Targets

A number of research analysts have weighed in on MTG shares. Compass Point restated a "neutral" rating and issued a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Barclays boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. UBS Group upped their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their target price on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a research note on Wednesday, January 8th. Finally, Bank of America cut MGIC Investment from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.75.

MGIC Investment Company 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.