Legal & General Group Plc Has $12.74 Million Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Legal & General Group Plc lowered its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 537,342 shares of the insurance provider's stock after selling 31,065 shares during the period. Legal & General Group Plc owned approximately 0.21% of MGIC Investment worth $12,740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in shares of MGIC Investment by 131.9% in the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock valued at $39,000 after buying an additional 938 shares during the period. Venturi Wealth Management LLC lifted 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 acquiring an additional 918 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of MGIC Investment by 61.9% during 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. Physician Wealth Advisors Inc. bought a new position in shares of MGIC Investment in the fourth quarter worth $54,000. Finally, EverSource Wealth Advisors LLC raised its stake in 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 purchasing an additional 419 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

Insiders Place Their Bets

In related 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 transaction of $112,930.00. Following the sale, the chief accounting officer now owns 75,070 shares in the company, valued at $1,842,968.50. This represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.41% of the company's stock.

MGIC Investment Price Performance

Shares of NYSE MTG traded up $0.19 during mid-day trading on Friday, hitting $24.03. 1,681,155 shares of the stock traded hands, compared to its average volume of 1,804,171. The company has a market cap of $5.83 billion, a PE ratio of 8.28 and a beta of 0.93. MGIC Investment Co. has a twelve month low of $19.81 and a twelve month high of $26.56. 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 $23.90 and a two-hundred day simple moving average of $24.51.

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%. As a group, 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 declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.16%. MGIC Investment's dividend payout ratio (DPR) is currently 17.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MTG shares. Barclays boosted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Compass Point restated a "neutral" rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. UBS Group raised their target price on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods lowered their price target 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. One equities research 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, MGIC Investment has a consensus rating of "Hold" and a consensus target price of $26.50.

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.