MGIC Investment Co. (NYSE:MTG) Holdings Cut by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,363,331 shares of the insurance provider's stock after selling 218,622 shares during the quarter. Alliancebernstein L.P. owned about 0.54% of MGIC Investment worth $32,325,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Franklin Resources Inc. increased its holdings in MGIC Investment by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider's stock valued at $41,836,000 after purchasing an additional 98,369 shares in the last quarter. Vestcor Inc grew its stake in shares of MGIC Investment by 559.3% in the third 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 holdings in shares of MGIC Investment by 13.4% during 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 during the period. Janney Montgomery Scott LLC lifted its position in 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 in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in MGIC Investment by 311.0% in 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 during the period. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

MGIC Investment Stock Up 3.1 %

MTG stock traded up $0.72 during mid-day trading on Friday, hitting $23.93. 2,341,615 shares of the company were exchanged, compared to its average volume of 1,799,697. The company has a market capitalization of $5.80 billion, a PE ratio of 8.25 and a beta of 0.93. The firm has a fifty day simple moving average of $24.01 and a 200 day simple moving average of $24.55. 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 twelve month low of $19.26 and a twelve month high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly 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 return on equity of 14.86% and a net margin of 63.18%. On average, research analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.17%. MGIC Investment's dividend payout ratio (DPR) is 17.93%.

Insider Activity

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment 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 completion of the transaction, the chief accounting officer now owns 75,070 shares of the company's stock, valued at $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.05% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on MTG shares. Barclays lifted their price objective 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. UBS Group lifted their price target on shares of 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 decreased their price objective on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a research report on Tuesday. Finally, Compass Point reaffirmed a "neutral" rating and set a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $26.50.

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.