Amalgamated Bank Has $3.17 Million Holdings in MGIC Investment Co. (NYSE:MTG)

Amalgamated Bank reduced its position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 25.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,955 shares of the insurance provider's stock after selling 43,153 shares during the period. Amalgamated Bank's holdings in MGIC Investment were worth $3,173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in MGIC Investment by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 161,376 shares of the insurance provider's stock valued at $4,099,000 after purchasing an additional 46,112 shares during the period. Janney Montgomery Scott LLC raised its position in shares of MGIC Investment by 190.8% in the third quarter. Janney Montgomery Scott LLC now owns 30,268 shares of the insurance provider's stock valued at $775,000 after buying an additional 19,861 shares in the last quarter. James Investment Research Inc. boosted its stake in shares of MGIC Investment by 7.1% in the third quarter. James Investment Research Inc. now owns 78,825 shares of the insurance provider's stock valued at $2,018,000 after buying an additional 5,200 shares during the period. Vanguard Capital Wealth Advisors acquired a new stake in MGIC Investment during the third quarter worth approximately $448,000. Finally, State of Alaska Department of Revenue grew its position in MGIC Investment by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider's stock worth $3,858,000 after buying an additional 540 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MTG. BTIG Research upped their target price on MGIC Investment from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Barclays raised their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, October 8th. Roth Mkm boosted their target price on shares of MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reduced their price target on shares of MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, MGIC Investment has an average rating of "Moderate Buy" and a consensus price target of $25.50.

MGIC Investment Trading Down 0.4 %

MGIC Investment stock traded down $0.10 during trading hours on Friday, hitting $24.46. The stock had a trading volume of 1,698,768 shares, compared to its average volume of 1,716,040. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 8.61, a P/E/G ratio of 1.37 and a beta of 1.28. The company has a quick ratio of 1.11, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The business's 50 day simple moving average is $25.22 and its 200-day simple moving average is $23.24. MGIC Investment Co. has a one year low of $17.25 and a one year high of $26.52.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The business had revenue of $306.65 million during the quarter, compared to analyst estimates of $306.03 million. During the same quarter last year, the business earned $0.64 EPS. The firm's quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts predict that MGIC Investment Co. will post 2.81 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a $0.13 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 2.13%. MGIC Investment's dividend payout ratio is 18.31%.

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.