American Century Companies Inc. Has $71.95 Million Stock Position in MGIC Investment Co. (NYSE:MTG)

American Century Companies Inc. lessened its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,034,509 shares of the insurance provider's stock after selling 22,564 shares during the quarter. American Century Companies Inc. owned approximately 1.20% of MGIC Investment worth $71,948,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTG. Franklin Resources Inc. raised its holdings in shares of MGIC Investment by 6.5% during the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock worth $41,836,000 after acquiring an additional 98,369 shares in the last quarter. Vestcor Inc raised its stake in shares of MGIC Investment by 559.3% during the 3rd quarter. Vestcor Inc now owns 60,094 shares of the insurance provider's stock worth $1,538,000 after purchasing an additional 50,979 shares in the last quarter. Ritholtz Wealth Management raised its stake in shares of MGIC Investment by 13.4% during the 4th quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider's stock worth $2,174,000 after purchasing an additional 10,864 shares in the last quarter. Hancock Whitney Corp acquired a new stake in shares of MGIC Investment during the 3rd quarter valued at about $777,000. Finally, Janney Montgomery Scott LLC increased its holdings in MGIC Investment by 33.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 40,398 shares of the insurance provider's stock worth $958,000 after buying an additional 10,130 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

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Insider Activity at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the transaction, the chief accounting officer now owns 75,070 shares of the company's stock, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.05% of the stock is currently owned by company insiders.

MGIC Investment Price Performance

Shares of MTG stock traded down $0.43 during trading hours on Friday, hitting $24.41. The company had a trading volume of 1,718,405 shares, compared to its average volume of 1,778,966. MGIC Investment Co. has a 12 month low of $19.26 and a 12 month high of $26.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The firm's fifty day moving average is $24.34 and its 200 day moving average is $24.67. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 8.42 and a beta of 1.28.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. On average, sell-side analysts predict that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Tuesday, February 18th. MGIC Investment's dividend payout ratio is currently 17.93%.

Analyst Ratings Changes

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