KLP Kapitalforvaltning AS Takes $1.98 Million Position in MGIC Investment Co. (NYSE:MTG)

KLP Kapitalforvaltning AS acquired a new stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 83,600 shares of the insurance provider's stock, valued at approximately $1,982,000.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of MGIC Investment by 21.9% during the 4th 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 in the last quarter. Xponance Inc. increased its stake in MGIC Investment by 1.3% during the fourth quarter. Xponance Inc. now owns 35,320 shares of the insurance provider's stock valued at $837,000 after purchasing an additional 442 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of MGIC Investment by 1.6% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider's stock worth $897,000 after purchasing an additional 579 shares during the period. US Bancorp DE lifted its position in shares of MGIC Investment by 6.2% in the 4th quarter. US Bancorp DE now owns 10,249 shares of the insurance provider's stock worth $243,000 after buying an additional 600 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of MGIC Investment by 6.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider's stock valued at $248,000 after buying an additional 608 shares during the period. Institutional investors own 95.58% of the company's stock.

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Insider Transactions at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the business's stock in a transaction dated 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 directly owns 75,070 shares in the company, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.05% of the company's stock.

MGIC Investment Stock Performance

Shares of NYSE MTG traded up $0.38 during midday trading on Tuesday, reaching $25.16. 2,055,519 shares of the company traded hands, compared to its average volume of 1,784,680. The stock has a 50-day moving average price of $24.36 and a 200 day moving average price of $24.67. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 8.67 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. MGIC Investment Co. has a 52 week low of $19.26 and a 52 week high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings data 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%. Sell-side analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Tuesday, February 18th. MGIC Investment's dividend payout ratio is presently 17.93%.

Analyst Upgrades and Downgrades

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

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.