MGIC Investment Co. (NYSE:MTG) Shares Sold by Assetmark Inc.

Assetmark Inc. decreased its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 972,432 shares of the insurance provider's stock after selling 43,223 shares during the quarter. Assetmark Inc. owned 0.38% of MGIC Investment worth $24,894,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in MGIC Investment by 482.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 946 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of MGIC Investment during the third quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new stake in shares of MGIC Investment during the third quarter valued at about $33,000. GAMMA Investing LLC increased its position in shares of MGIC Investment by 76.2% during the second quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider's stock worth $66,000 after acquiring an additional 1,328 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of MGIC Investment by 600.0% in the first quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the insurance provider's stock worth $94,000 after acquiring an additional 3,600 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company's stock.

MGIC Investment Stock Performance

MTG traded down $0.10 during trading hours on Friday, hitting $24.46. 1,698,768 shares of the stock were exchanged, compared to its average volume of 1,716,040. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.11. MGIC Investment Co. has a 12 month low of $17.25 and a 12 month high of $26.52. The stock has a 50-day simple moving average of $25.22 and a 200-day simple moving average of $23.24. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 8.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping 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 company had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. During the same period last year, the firm posted $0.64 EPS. The company's revenue for the quarter was up 3.4% on a year-over-year basis. Analysts anticipate that MGIC Investment Co. will post 2.81 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders 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 dividend on an annualized basis and a yield of 2.13%. MGIC Investment's payout ratio is currently 18.31%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MTG shares. Roth Mkm lifted their price objective on MGIC Investment from $24.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Royal Bank of Canada cut 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 report on Wednesday. Barclays increased their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 8th. Finally, BTIG Research boosted their target price on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, MGIC Investment presently 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.