MGIC Investment Co. (NYSE:MTG) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC trimmed its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 11.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 529,350 shares of the insurance provider's stock after selling 70,960 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.21% of MGIC Investment worth $13,551,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of MTG. Dimensional Fund Advisors LP raised its stake in MGIC Investment by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider's stock valued at $326,375,000 after buying an additional 556,859 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of MGIC Investment in the 3rd quarter worth about $13,535,000. WINTON GROUP Ltd raised its position in shares of MGIC Investment by 440.3% in the 2nd quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider's stock worth $11,228,000 after acquiring an additional 424,580 shares in the last quarter. Vest Financial LLC raised its position in shares of MGIC Investment by 22.7% in the 2nd quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider's stock worth $23,139,000 after acquiring an additional 198,553 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of MGIC Investment in the 3rd quarter valued at about $4,911,000. 95.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays lifted their target price on shares of MGIC Investment from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 8th. Royal Bank of Canada lowered their target price on shares of MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.50.

MGIC Investment Stock Performance

Shares of NYSE MTG traded down $0.30 during midday trading on Wednesday, reaching $25.63. The company had a trading volume of 1,152,797 shares, compared to its average volume of 1,738,612. The stock has a market cap of $6.49 billion, a P/E ratio of 9.02, a P/E/G ratio of 1.86 and a beta of 1.27. MGIC Investment Co. has a 1 year low of $17.42 and a 1 year high of $26.56. The business's 50-day simple moving average is $25.29 and its 200 day simple moving average is $23.81. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.11. The firm had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. On average, analysts forecast that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. MGIC Investment's dividend payout ratio is presently 18.31%.

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.