Charles Schwab Investment Management Inc. Trims Stock Position in MGIC Investment Co. (NYSE:MTG)

Charles Schwab Investment Management Inc. decreased its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,624,772 shares of the insurance provider's stock after selling 53,719 shares during the period. Charles Schwab Investment Management Inc. owned about 1.04% of MGIC Investment worth $67,194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hara Capital LLC purchased a new stake in MGIC Investment in the 3rd quarter valued at approximately $25,000. Versant Capital Management Inc raised its position in MGIC Investment by 482.7% in the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider's stock worth $25,000 after acquiring an additional 946 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in MGIC Investment in the third quarter worth $33,000. GAMMA Investing LLC boosted its position in shares of MGIC Investment by 76.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider's stock worth $66,000 after purchasing an additional 1,328 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of MGIC Investment by 65.5% during the 3rd quarter. Covestor Ltd now owns 3,387 shares of the insurance provider's stock worth $87,000 after purchasing an additional 1,341 shares during the period. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Price Performance

Shares of MGIC Investment stock traded up $0.17 during trading on Friday, hitting $26.28. 592,006 shares of the company were exchanged, compared to its average volume of 1,745,098. The firm has a 50 day moving average price of $25.24 and a 200 day moving average price of $23.66. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 1.87 and a beta of 1.28. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a fifty-two week low of $17.33 and a fifty-two week high of $26.56.

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 the consensus estimate of $0.66 by $0.11. The business had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The business's revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 earnings per share. On average, equities analysts expect that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Thursday, November 7th. MGIC Investment's payout ratio is 18.31%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MTG. Barclays raised 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. BTIG Research boosted their price target on MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Roth Mkm raised their price objective on MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada decreased their target price on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.50.

MGIC Investment 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.