Wealth Enhancement Advisory Services LLC Sells 37,165 Shares of MGIC Investment Co. (NYSE:MTG)

Wealth Enhancement Advisory Services LLC trimmed its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,610,928 shares of the insurance provider's stock after selling 37,165 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.60% of MGIC Investment worth $41,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Jupiter Asset Management Ltd. increased its position in shares of MGIC Investment by 134.8% in the first quarter. Jupiter Asset Management Ltd. now owns 1,537,972 shares of the insurance provider's stock valued at $34,389,000 after acquiring an additional 882,984 shares during the period. Dimensional Fund Advisors LP increased its holdings in MGIC Investment by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider's stock valued at $326,375,000 after purchasing an additional 556,859 shares during the period. WINTON GROUP Ltd raised its position in MGIC Investment by 440.3% during the 2nd quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider's stock valued at $11,228,000 after purchasing an additional 424,580 shares during the last quarter. Vest Financial LLC lifted its holdings in 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 buying an additional 198,553 shares during the period. Finally, CX Institutional bought a new stake in shares of MGIC Investment in the 3rd quarter worth approximately $4,911,000. 95.58% of the stock is currently owned by institutional investors.

MGIC Investment Stock Down 2.6 %

MTG traded down $0.66 during trading on Friday, reaching $24.89. The stock had a trading volume of 1,262,716 shares, compared to its average volume of 1,749,309. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 9.57, a P/E/G ratio of 1.35 and a beta of 1.28. The stock's 50 day moving average is $25.25 and its two-hundred day moving average is $22.90. MGIC Investment Co. has a one year low of $16.32 and a one year high of $26.52.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.15. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The company had revenue of $305.28 million during the quarter, compared to analyst estimates of $301.02 million. During the same period last year, the business earned $0.68 EPS. MGIC Investment's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, analysts expect that MGIC Investment Co. will post 2.76 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.09%. MGIC Investment's dividend payout ratio is currently 20.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BTIG Research upped their target price on MGIC Investment from $22.00 to $25.00 and gave the company a "buy" rating in a report on Monday, August 5th. Barclays raised 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. Finally, Roth Mkm boosted their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, MGIC Investment presently has an average rating of "Moderate Buy" and an average target price of $24.50.

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.