Dimensional Fund Advisors LP Has $352.36 Million Stock Position in MGIC Investment Co. (NYSE:MTG)

Dimensional Fund Advisors LP decreased its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,861,397 shares of the insurance provider's stock after selling 190,198 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.87% of MGIC Investment worth $352,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. UMB Bank n.a. grew its position in MGIC Investment by 131.9% during the fourth 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 period. Venturi Wealth Management LLC grew its holdings in shares of MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock worth $43,000 after purchasing an additional 918 shares during the period. V Square Quantitative Management LLC increased its position in MGIC Investment by 61.9% during the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock worth $49,000 after purchasing an additional 794 shares in the last quarter. Physician Wealth Advisors Inc. purchased a new position in MGIC Investment in the fourth quarter valued at approximately $54,000. Finally, EverSource Wealth Advisors LLC lifted its position 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 valued at $55,000 after buying an additional 419 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

Insider Activity at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction on 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. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MTG shares. Compass Point reissued a "neutral" rating and issued a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. UBS Group boosted their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods lowered their target price on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. Finally, Barclays boosted their price target on MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $26.50.

MGIC Investment Stock Down 2.0 %

NYSE MTG traded down $0.50 during mid-day trading on Friday, reaching $24.21. 1,505,547 shares of the company's stock traded hands, compared to its average volume of 1,805,227. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a 1-year low of $20.02 and a 1-year high of $26.56. The company has a fifty day simple moving average of $23.86 and a 200-day simple moving average of $24.47. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 8.35 and a beta of 0.93.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. As a group, equities research analysts expect that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment declared that its board has approved a share buyback plan on Thursday, April 24th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 12.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Thursday, May 8th will be paid a $0.13 dividend. The ex-dividend date is Thursday, May 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.15%. MGIC Investment's dividend payout ratio (DPR) is 17.93%.

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.