MGIC Investment Co. (NYSE:MTG) Stock Holdings Lessened by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lessened its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 2.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,027,061 shares of the insurance provider's stock after selling 29,422 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.41% of MGIC Investment worth $24,352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BNP Paribas Financial Markets increased its position in shares of MGIC Investment by 26.0% during the third quarter. BNP Paribas Financial Markets now owns 307,547 shares of the insurance provider's stock worth $7,873,000 after acquiring an additional 63,473 shares during the period. Bridgewater Associates LP purchased a new stake in shares of MGIC Investment in the 3rd quarter worth approximately $774,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of MGIC Investment by 9.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,168 shares of the insurance provider's stock worth $1,796,000 after acquiring an additional 6,138 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of MGIC Investment by 96.4% during the 3rd quarter. Verition Fund Management LLC now owns 22,500 shares of the insurance provider's stock worth $576,000 after purchasing an additional 11,046 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in MGIC Investment in the third quarter valued at about $13,535,000. Hedge funds and other institutional investors own 95.58% of the company's stock.

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MGIC Investment Price Performance

Shares of MGIC Investment stock traded down $1.12 on Friday, reaching $23.20. The company's stock had a trading volume of 586,798 shares, compared to its average volume of 1,780,779. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56. The stock has a 50-day moving average price of $24.37 and a 200-day moving average price of $24.68. The company has a market capitalization of $5.63 billion, a P/E ratio of 8.00 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 (EPS) 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%. Analysts expect that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment's payout ratio is currently 17.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. 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 report on Wednesday, January 8th. Barclays raised their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. UBS Group increased their price target on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Compass Point restated a "neutral" rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Finally, Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and cut their target price for the company from $26.00 to $25.00 in a research report on Monday, December 9th. 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 stock. According to MarketBeat, MGIC Investment has an average rating of "Hold" and an average price target of $26.75.

Insider Activity

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the company's stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.05% of the company's stock.

MGIC Investment 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.