Schroder Investment Management Group Sells 200,816 Shares of MGIC Investment Co. (NYSE:MTG)

Schroder Investment Management Group lowered its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 25.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 591,085 shares of the insurance provider's stock after selling 200,816 shares during the period. Schroder Investment Management Group owned approximately 0.23% of MGIC Investment worth $13,979,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTG. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in MGIC Investment by 9.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,168 shares of the insurance provider's stock valued at $1,796,000 after acquiring an additional 6,138 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of MGIC Investment by 96.4% during the third quarter. Verition Fund Management LLC now owns 22,500 shares of the insurance provider's stock valued at $576,000 after purchasing an additional 11,046 shares in the last quarter. Erste Asset Management GmbH purchased a new position in MGIC Investment during the third quarter worth about $594,000. Centiva Capital LP grew its position in MGIC Investment by 224.4% in the 3rd quarter. Centiva Capital LP now owns 33,388 shares of the insurance provider's stock worth $855,000 after purchasing an additional 23,097 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in MGIC Investment by 50.7% in the 3rd quarter. Quantinno Capital Management LP now owns 104,392 shares of the insurance provider's stock worth $2,672,000 after purchasing an additional 35,125 shares in the last quarter. 95.58% of the stock is owned by institutional investors.

MGIC Investment Stock Performance

MTG traded down $0.11 during trading hours on Tuesday, hitting $22.41. The stock had a trading volume of 2,322,843 shares, compared to its average volume of 1,791,799. The stock has a market cap of $5.43 billion, a PE ratio of 7.73 and a beta of 0.93. MGIC Investment Co. has a 1 year low of $19.26 and a 1 year high of $26.56. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The company's fifty day simple moving average is $24.15 and its 200 day simple moving average is $24.59.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share 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%. Equities analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 2.32%. MGIC Investment's dividend payout ratio is currently 17.93%.

Insider Transactions at MGIC Investment

In other 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 value of $112,930.00. Following the sale, the chief accounting officer now directly owns 75,070 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 1.05% of the company's stock.

Analyst Upgrades and Downgrades

MTG has been the topic of a number of research analyst reports. Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and cut their target price for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods cut their price objective on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating on the stock in a research report on Tuesday. UBS Group raised their target price on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Barclays boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Finally, Compass Point restated a "neutral" rating and set a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, MGIC Investment currently has an average rating of "Hold" and an average 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.