Mitsubishi UFJ Trust & Banking Corp Reduces Holdings in MGIC Investment Co. (NYSE:MTG)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 24.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 102,716 shares of the insurance provider's stock after selling 32,548 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in MGIC Investment were worth $2,435,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of MGIC Investment during the 3rd quarter valued at $13,535,000. Allianz Asset Management GmbH lifted its stake in MGIC Investment by 8.2% in the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock valued at $130,289,000 after purchasing an additional 415,586 shares during the last quarter. Amundi purchased a new position in shares of MGIC Investment in the fourth quarter valued at $8,914,000. Vest Financial LLC raised its position in shares of MGIC Investment by 33.4% in the fourth quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider's stock worth $35,213,000 after buying an additional 371,882 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in MGIC Investment in the 4th quarter worth approximately $8,362,000. Institutional investors and hedge funds own 95.58% of the company's stock.

Insiders Place Their Bets

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.05% of the company's stock.

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MGIC Investment Price Performance

Shares of NYSE:MTG traded down $0.98 on Friday, hitting $23.34. The stock had a trading volume of 1,179,947 shares, compared to its average volume of 1,783,061. The firm's 50 day moving average price is $24.37 and its 200-day moving average price is $24.68. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 8.07 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 Co. has a twelve month low of $19.26 and a twelve month high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 predict that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.23%. MGIC Investment's dividend payout ratio is currently 17.93%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MTG. Compass Point reissued a "neutral" rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. UBS Group increased their price objective on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Barclays raised their price objective on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods cut their price target 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 lowered MGIC Investment from a "buy" rating to an "underperform" rating and cut their target price for the company from $26.00 to $25.00 in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, MGIC Investment has a consensus rating of "Hold" and an average target price of $26.75.

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.