MGIC Investment Co. (NYSE:MTG) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,832,677 shares of the insurance provider's stock after selling 167,614 shares during the quarter. Clearbridge Investments LLC owned approximately 1.91% of MGIC Investment worth $114,583,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. UMB Bank n.a. increased its holdings in shares of MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 938 shares during the last quarter. Venturi Wealth Management LLC increased its stake in MGIC Investment by 102.1% in the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 918 shares during the last quarter. V Square Quantitative Management LLC increased its stake in MGIC Investment by 61.9% in the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock valued at $49,000 after purchasing an additional 794 shares during the last quarter. Physician Wealth Advisors Inc. acquired a new stake in MGIC Investment during the fourth quarter worth approximately $54,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of MGIC Investment by 21.9% during the 4th 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 last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

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MGIC Investment Stock Performance

Shares of MTG stock traded down $1.15 during midday trading on Friday, hitting $23.17. The company had a trading volume of 586,798 shares, compared to its average volume of 1,780,808. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The company's 50 day simple moving average is $24.37 and its 200 day simple moving average is $24.68. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 8.00 and a beta of 1.28.

MGIC Investment (NYSE:MTG - Get Free Report) last posted 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%. Research analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.13 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.24%. MGIC Investment's dividend payout ratio (DPR) is 17.93%.

Insider Buying and Selling

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the transaction, the chief accounting officer now 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 document filed with the SEC, which is accessible through the SEC website. 1.05% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. UBS Group increased their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Bank of America cut MGIC Investment from a "buy" rating to an "underperform" rating and cut their target price for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Compass Point reissued a "neutral" rating and issued a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their price target on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays boosted their price objective on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, MGIC Investment presently has an average rating of "Hold" and a consensus price target of $26.75.

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.