Asset Management One Co. Ltd. Sells 30,131 Shares of MGIC Investment Co. (NYSE:MTG)

Asset Management One Co. Ltd. trimmed its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 65.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,177 shares of the insurance provider's stock after selling 30,131 shares during the quarter. Asset Management One Co. Ltd.'s holdings in MGIC Investment were worth $414,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MTG. Jupiter Asset Management Ltd. lifted its position in MGIC Investment by 134.8% in the first quarter. Jupiter Asset Management Ltd. now owns 1,537,972 shares of the insurance provider's stock worth $34,389,000 after purchasing an additional 882,984 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of MGIC Investment by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider's stock valued at $326,375,000 after acquiring an additional 556,859 shares during the last quarter. WINTON GROUP Ltd lifted its position in shares of MGIC Investment by 440.3% during the 2nd quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider's stock valued at $11,228,000 after acquiring an additional 424,580 shares during the last quarter. Vest Financial LLC lifted its position in shares of MGIC Investment by 22.7% during the 2nd quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider's stock valued at $23,139,000 after acquiring an additional 198,553 shares during the last quarter. Finally, CX Institutional acquired a new stake in shares of MGIC Investment during the 3rd quarter valued at $4,911,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Stock Up 1.8 %

Shares of MTG traded up $0.45 during mid-day trading on Monday, reaching $24.91. The company's stock had a trading volume of 1,401,325 shares, compared to its average volume of 1,775,736. The business has a fifty day moving average of $25.22 and a 200 day moving average of $23.26. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28. MGIC Investment Co. has a 1 year low of $17.25 and a 1 year high of $26.52. The company has a quick ratio of 1.11, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.66 by $0.11. The firm had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, analysts forecast that MGIC Investment Co. will post 2.81 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, November 7th. MGIC Investment's payout ratio is 18.31%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MTG shares. Roth Mkm increased their price objective on MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Royal Bank of Canada cut their price objective on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Wednesday, November 6th. Barclays increased their price objective on MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 8th. Finally, BTIG Research increased their price objective on MGIC Investment from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $25.50.

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.