Grantham Mayo Van Otterloo & Co. LLC Trims Stake in MGIC Investment Co. (NYSE:MTG)

Grantham Mayo Van Otterloo & Co. LLC decreased its holdings in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 486,978 shares of the insurance provider's stock after selling 18,648 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.19% of MGIC Investment worth $11,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MTG. UMB Bank n.a. raised its stake in shares of MGIC Investment by 131.9% during 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 increased its position in shares of MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after buying an additional 918 shares during the period. V Square Quantitative Management LLC increased its position in shares of 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 valued at $49,000 after buying an additional 794 shares during the period. Physician Wealth Advisors Inc. purchased a new stake in shares of MGIC Investment in the fourth quarter worth about $54,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of MGIC Investment by 21.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock valued at $55,000 after acquiring an additional 419 shares during the period. Hedge funds and other institutional investors own 95.58% of the company's stock.

MGIC Investment Price Performance

Shares of MTG stock traded up $0.28 during trading hours on Friday, hitting $23.49. 566,953 shares of the company's stock were exchanged, compared to its average volume of 1,792,299. The company has a market capitalization of $5.70 billion, a PE ratio of 8.09 and a beta of 0.93. 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 12-month low of $19.26 and a 12-month high of $26.56. The business's 50 day simple moving average is $24.05 and its 200-day simple moving average is $24.56.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, topping 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%. On average, equities research analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.21%. The ex-dividend date was Tuesday, February 18th. MGIC Investment's dividend payout ratio is presently 17.93%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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 shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now owns 75,070 shares of the company's stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is owned by corporate insiders.

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.