MGIC Investment Co. (NYSE:MTG) Shares Sold by Lingohr Asset Management GmbH

Lingohr Asset Management GmbH cut its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 55.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,534 shares of the insurance provider's stock after selling 16,701 shares during the period. Lingohr Asset Management GmbH's holdings in MGIC Investment were worth $320,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its holdings in shares of MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock worth $39,000 after purchasing an additional 938 shares during the period. Venturi Wealth Management LLC raised its position in MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock worth $43,000 after buying an additional 918 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of MGIC Investment by 61.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock worth $49,000 after acquiring an additional 794 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of MGIC Investment by 21.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock valued at $55,000 after acquiring an additional 419 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of MGIC Investment during the third quarter worth about $69,000. 95.58% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the sale, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.05% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Compass Point restated a "neutral" rating and issued a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. UBS Group lifted 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. Barclays upped their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their target price on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a report on Wednesday, January 8th. Finally, Bank of America cut shares of MGIC Investment from a "buy" rating to an "underperform" rating and lowered their price target for the stock 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $26.75.

MGIC Investment Price Performance

Shares of MGIC Investment stock traded up $0.53 on Monday, hitting $24.08. The company's stock had a trading volume of 2,629,625 shares, compared to its average volume of 1,706,811. The company has a market capitalization of $5.84 billion, a P/E ratio of 8.30 and a beta of 1.28. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56. The firm has a fifty day moving average price of $24.31 and a 200-day moving average price of $24.68. 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 (NYSE:MTG - Get Free Report) last announced 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%. On average, equities research analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal 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 issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Tuesday, February 18th. MGIC Investment's dividend payout ratio (DPR) is presently 17.93%.

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.