MGIC Investment Co. (NYSE:MTG) Shares Sold by EMC Capital Management

EMC Capital Management lessened its position in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 92.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,497 shares of the insurance provider's stock after selling 30,596 shares during the quarter. EMC Capital Management's holdings in MGIC Investment were worth $64,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MTG. Dimensional Fund Advisors LP raised its position in MGIC Investment by 3.8% in the second 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. LSV Asset Management increased its position in shares of MGIC Investment by 1.6% during the first quarter. LSV Asset Management now owns 10,983,325 shares of the insurance provider's stock worth $245,587,000 after acquiring an additional 174,609 shares during the period. Clearbridge Investments LLC increased its position in shares of MGIC Investment by 2.4% during the first quarter. Clearbridge Investments LLC now owns 6,008,042 shares of the insurance provider's stock worth $134,340,000 after acquiring an additional 139,562 shares during the period. American Century Companies Inc. increased its position in shares of MGIC Investment by 1.5% during the second quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider's stock worth $73,167,000 after acquiring an additional 50,307 shares during the period. Finally, Jupiter Asset Management Ltd. increased its position in shares of MGIC Investment by 134.8% during the first quarter. Jupiter Asset Management Ltd. now owns 1,537,972 shares of the insurance provider's stock worth $34,389,000 after acquiring an additional 882,984 shares during the period. Hedge funds and other institutional investors own 95.58% of the company's stock.

MGIC Investment Stock Down 5.9 %

Shares of MTG stock traded down $1.48 on Friday, reaching $23.56. 3,860,529 shares of the stock were exchanged, compared to its average volume of 1,304,186. 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 business's 50 day moving average price is $25.31 and its 200 day moving average price is $23.08. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 1.33 and a beta of 1.28. MGIC Investment Co. has a twelve month low of $16.95 and a twelve month high of $26.52.

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

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.52 annualized dividend and a yield of 2.21%. MGIC Investment's dividend payout ratio is presently 19.19%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MTG. Barclays upped their price objective on MGIC Investment from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 8th. BTIG Research upped their price objective on MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Finally, Roth Mkm upped their price objective on MGIC Investment from $24.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, MGIC Investment presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.

MGIC Investment Company 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.