Thrivent Financial for Lutherans Sells 167,488 Shares of MGIC Investment Co. (NYSE:MTG)

Thrivent Financial for Lutherans lowered its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 21.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 628,439 shares of the insurance provider's stock after selling 167,488 shares during the quarter. Thrivent Financial for Lutherans owned about 0.25% of MGIC Investment worth $14,901,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. UMB Bank n.a. lifted its position in MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock worth $39,000 after buying an additional 938 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of MGIC Investment by 102.1% in the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock worth $43,000 after acquiring an additional 918 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of MGIC Investment by 61.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock worth $49,000 after purchasing an additional 794 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of MGIC Investment by 21.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock valued at $55,000 after purchasing an additional 419 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of MGIC Investment in the third quarter valued at approximately $69,000. Institutional investors own 95.58% of the company's stock.

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Analysts Set New Price Targets

MTG has been the topic of several research reports. Keefe, Bruyette & Woods reduced their price objective on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a report on Wednesday, January 8th. Bank of America lowered MGIC Investment from a "buy" rating to an "underperform" rating and cut their price target for the company from $26.00 to $25.00 in a research note on Monday, December 9th. UBS Group lifted their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Barclays upped their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Compass Point reiterated a "neutral" rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $26.75.

Insider Transactions at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.05% of the stock is currently owned by insiders.

MGIC Investment Trading Up 1.8 %

NYSE MTG traded up $0.44 during trading on Wednesday, reaching $24.73. 2,003,915 shares of the stock traded hands, compared to its average volume of 1,708,122. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week 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 firm has a market cap of $6.00 billion, a price-to-earnings ratio of 8.53 and a beta of 1.28. The stock's 50-day moving average price is $24.32 and its 200 day moving average price is $24.67.

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%. Analysts predict that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were issued a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.10%. MGIC Investment's dividend payout ratio (DPR) is currently 17.93%.

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.