Geode Capital Management LLC Has $107.80 Million Position in MGIC Investment Co. (NYSE:MTG)

Geode Capital Management LLC trimmed its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,545,344 shares of the insurance provider's stock after selling 37,693 shares during the quarter. Geode Capital Management LLC owned about 1.79% of MGIC Investment worth $107,801,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MTG. UMB Bank n.a. boosted its stake in 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 purchasing an additional 938 shares during the period. Venturi Wealth Management LLC grew its stake in shares of 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 acquiring an additional 918 shares in the last quarter. V Square Quantitative Management LLC increased its position in MGIC Investment by 61.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock worth $49,000 after acquiring an additional 794 shares during the period. Physician Wealth Advisors Inc. acquired a new stake in MGIC Investment in the 4th quarter worth about $54,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in MGIC Investment by 21.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock valued at $55,000 after purchasing an additional 419 shares during the period. 95.58% of the stock is owned by institutional investors.

MGIC Investment Price Performance

Shares of MTG stock traded up $0.18 on Tuesday, reaching $24.48. The company had a trading volume of 285,823 shares, compared to its average volume of 1,797,513. The stock has a market capitalization of $5.94 billion, a PE ratio of 8.43 and a beta of 0.93. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The business's 50-day moving average is $23.99 and its 200 day moving average is $24.54. MGIC Investment Co. has a one year low of $19.26 and a one year high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its earnings results 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%. Equities research analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.12%. MGIC Investment's payout ratio is presently 17.93%.

Insider Buying and Selling at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the company'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 value of $112,930.00. Following the completion of the transaction, the chief accounting officer now owns 75,070 shares of the company's stock, valued at $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.05% of the company's stock.

Analyst Upgrades and Downgrades

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

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.