JPMorgan Chase & Co. Has $365.58 Million Stock Position in MGIC Investment Co. (NYSE:MTG)

JPMorgan Chase & Co. reduced its stake in MGIC Investment Co. (NYSE:MTG - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,418,968 shares of the insurance provider's stock after selling 930,725 shares during the period. JPMorgan Chase & Co. owned 6.09% of MGIC Investment worth $365,584,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its stake in 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 in the last quarter. Venturi Wealth Management LLC boosted its position 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 valued at $43,000 after purchasing an additional 918 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of MGIC Investment by 61.9% in 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. EverSource Wealth Advisors LLC boosted its holdings 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 worth $55,000 after buying an additional 419 shares in the last quarter. Finally, Savant Capital LLC grew its position in MGIC Investment by 11.8% in the fourth quarter. Savant Capital LLC now owns 8,857 shares of the insurance provider's stock worth $210,000 after buying an additional 933 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other 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 transaction, the chief accounting officer now directly owns 75,070 shares in the company, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.05% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

MGIC Investment Price Performance

Shares of MGIC Investment stock traded down $1.45 during midday trading on Friday, hitting $22.87. 363,313 shares of the company were exchanged, compared to its average volume of 2,266,386. 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 firm has a 50 day simple moving average of $24.37 and a 200-day simple moving average of $24.68. MGIC Investment Co. has a 52 week low of $19.26 and a 52 week high of $26.56. The firm has a market cap of $5.55 billion, a P/E ratio of 7.89 and a beta of 1.28.

MGIC Investment (NYSE:MTG - Get Free Report) last announced 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 return on equity of 14.86% and a net margin of 63.18%. Research analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Tuesday, February 18th. MGIC Investment's dividend payout ratio is currently 17.93%.

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.