Arrowstreet Capital Limited Partnership Decreases Stake in MGIC Investment Co. (NYSE:MTG)

Arrowstreet Capital Limited Partnership lessened its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 15.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,114,877 shares of the insurance provider's stock after selling 571,283 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.23% of MGIC Investment worth $73,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in MGIC Investment by 21.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock worth $55,000 after buying an additional 419 shares during the period. Xponance Inc. raised its position in shares of MGIC Investment by 1.3% in the 4th quarter. Xponance Inc. now owns 35,320 shares of the insurance provider's stock worth $837,000 after acquiring an additional 442 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of MGIC Investment by 1.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider's stock worth $897,000 after purchasing an additional 579 shares during the last quarter. US Bancorp DE boosted its position in MGIC Investment by 6.2% during the fourth quarter. US Bancorp DE now owns 10,249 shares of the insurance provider's stock valued at $243,000 after purchasing an additional 600 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in MGIC Investment by 6.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider's stock valued at $248,000 after purchasing an additional 608 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors.

MGIC Investment Stock Performance

Shares of MTG traded down $1.23 during mid-day trading on Friday, reaching $23.09. The company had a trading volume of 3,169,312 shares, compared to its average volume of 1,784,531. The stock has a 50 day moving average of $24.33 and a two-hundred day moving average of $24.65. 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 stock has a market capitalization of $5.60 billion, a P/E ratio of 7.96 and a beta of 1.28. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly earnings data 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%. On average, analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current 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 paid a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.25%. MGIC Investment's dividend payout ratio is currently 17.93%.

Analyst Ratings Changes

Several research firms have commented on MTG. Keefe, Bruyette & Woods decreased their price target on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a research report on Wednesday, January 8th. Barclays increased their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Compass Point restated a "neutral" rating and issued a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and reduced their price target for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Finally, UBS Group raised their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research 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 given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.75.

Insider Activity at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment 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 sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.05% of the stock is owned by corporate insiders.

About MGIC Investment

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.