Charles Schwab Investment Management Inc. Sells 45,444 Shares of MGIC Investment Co. (NYSE:MTG)

Charles Schwab Investment Management Inc. decreased its stake in MGIC Investment Co. (NYSE:MTG - Free Report) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,579,328 shares of the insurance provider's stock after selling 45,444 shares during the period. Charles Schwab Investment Management Inc. owned 1.02% of MGIC Investment worth $61,156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of MGIC Investment in the 3rd quarter valued at about $13,535,000. Allianz Asset Management GmbH increased its holdings in shares of MGIC Investment by 8.2% during the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock worth $130,289,000 after purchasing an additional 415,586 shares during the period. Vest Financial LLC lifted its position in shares of MGIC Investment by 33.4% during the 4th quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider's stock valued at $35,213,000 after acquiring an additional 371,882 shares during the period. Assenagon Asset Management S.A. bought a new stake in MGIC Investment during the fourth quarter worth about $8,362,000. Finally, Barclays PLC increased its stake in MGIC Investment by 75.1% in the third quarter. Barclays PLC now owns 457,706 shares of the insurance provider's stock valued at $11,716,000 after acquiring an additional 196,252 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts have commented on the company. Keefe, Bruyette & Woods lowered their target price on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a research note on Wednesday, January 8th. 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. Barclays upped their target price on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. UBS Group raised their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Bank of America lowered shares of 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, MGIC Investment presently has a consensus rating of "Hold" and a consensus target price of $26.75.

MGIC Investment Trading Down 0.5 %

Shares of MTG stock traded down $0.12 during trading hours on Thursday, hitting $22.48. 2,852,855 shares of the company were exchanged, compared to its average volume of 1,790,614. The company has a 50 day simple moving average of $24.33 and a two-hundred day simple moving average of $24.79. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56. The firm has a market cap of $5.46 billion, a P/E ratio of 7.75 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings results 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%. Equities analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.31%. MGIC Investment's payout ratio is presently 17.93%.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the transaction, the chief accounting officer now owns 75,070 shares in the company, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.57% of the company's stock.

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.