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

JPMorgan Chase & Co. trimmed its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 have also made changes to their positions in the company. Franklin Resources Inc. lifted its position in MGIC Investment by 6.5% during the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock worth $41,836,000 after purchasing an additional 98,369 shares during the period. Vestcor Inc raised its position in shares of MGIC Investment by 559.3% in the 3rd quarter. Vestcor Inc now owns 60,094 shares of the insurance provider's stock valued at $1,538,000 after buying an additional 50,979 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of MGIC Investment by 13.4% in the 4th quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider's stock valued at $2,174,000 after buying an additional 10,864 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of MGIC Investment by 33.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 40,398 shares of the insurance provider's stock worth $958,000 after acquiring an additional 10,130 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of MGIC Investment by 311.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 66,493 shares of the insurance provider's stock worth $1,575,000 after acquiring an additional 50,316 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors.

Insider Activity at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the company's stock in a transaction dated 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 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 filing with the SEC, which is accessible through this link. 1.05% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MTG. UBS Group upped their target price 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 price target on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a report on Wednesday, January 8th. Bank of America lowered MGIC Investment from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $26.00 to $25.00 in a research note on Monday, December 9th. Compass Point reissued a "neutral" rating and set a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Finally, Barclays raised their price target on shares of 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 assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $26.75.

MGIC Investment Trading Down 5.1 %

Shares of MTG stock traded down $1.23 during mid-day trading on Friday, reaching $23.09. 3,169,312 shares of the stock traded hands, compared to its average volume of 1,784,255. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 7.96 and a beta of 1.28. 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 stock's fifty day simple moving average is $24.33 and its two-hundred day simple moving average is $24.66. MGIC Investment Co. has a 1-year low of $19.26 and a 1-year high of $26.56.

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

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.25%. MGIC Investment's dividend payout ratio is 17.93%.

About MGIC Investment

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.