MGIC Investment Co. (NYSE:MTG) Holdings Cut by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 21.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,148 shares of the insurance provider's stock after selling 38,699 shares during the quarter. Public Employees Retirement System of Ohio owned 0.05% of MGIC Investment worth $3,537,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MTG. Dimensional Fund Advisors LP increased its stake in shares of MGIC Investment by 3.8% during 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 acquiring an additional 556,859 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of MGIC Investment in the 3rd quarter worth $13,535,000. WINTON GROUP Ltd lifted its holdings in shares of MGIC Investment by 440.3% in the second quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider's stock valued at $11,228,000 after buying an additional 424,580 shares during the period. Vest Financial LLC lifted its holdings in shares of MGIC Investment by 22.7% in the second quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider's stock valued at $23,139,000 after buying an additional 198,553 shares during the period. Finally, CX Institutional bought a new position in MGIC Investment during the third quarter valued at about $4,911,000. Institutional investors own 95.58% of the company's stock.

MGIC Investment Trading Up 0.6 %

Shares of MTG stock traded up $0.15 during trading hours on Monday, reaching $24.70. 1,470,901 shares of the stock traded hands, compared to its average volume of 1,732,852. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $6.26 billion, a PE ratio of 8.70, a PEG ratio of 1.77 and a beta of 1.27. MGIC Investment Co. has a 1-year low of $18.68 and a 1-year high of $26.56. The business has a fifty day moving average price of $25.21 and a 200 day moving average price of $24.08.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.11. The company had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The company's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. On average, equities research analysts forecast that MGIC Investment Co. will post 2.85 EPS for the current year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, November 7th. MGIC Investment's dividend payout ratio is currently 18.31%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $29.00 price target on shares of MGIC Investment in a research report on Tuesday, December 10th. Royal Bank of Canada dropped their target price on shares of MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Wednesday, November 6th. 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 report on Tuesday, October 8th. Finally, Bank of America cut MGIC Investment from a "buy" rating to an "underperform" rating and dropped their price target for the company from $26.00 to $25.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $26.00.

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.