Robeco Institutional Asset Management B.V. Sells 65,177 Shares of MGIC Investment Co. (NYSE:MTG)

Robeco Institutional Asset Management B.V. lowered its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 798,454 shares of the insurance provider's stock after selling 65,177 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.31% of MGIC Investment worth $20,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vident Advisory LLC grew its stake in MGIC Investment by 21.1% in the first quarter. Vident Advisory LLC now owns 212,660 shares of the insurance provider's stock valued at $4,755,000 after acquiring an additional 37,030 shares during the period. LSV Asset Management lifted its position in MGIC Investment by 1.6% in the 1st quarter. LSV Asset Management now owns 10,983,325 shares of the insurance provider's stock valued at $245,587,000 after acquiring an additional 174,609 shares in the last quarter. Sei Investments Co. boosted its stake in MGIC Investment by 31.7% in the 1st quarter. Sei Investments Co. now owns 496,778 shares of the insurance provider's stock worth $11,108,000 after purchasing an additional 119,476 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of MGIC Investment by 110.9% during the first quarter. Janney Montgomery Scott LLC now owns 61,539 shares of the insurance provider's stock worth $1,376,000 after buying an additional 32,358 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of MGIC Investment by 24.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 369,053 shares of the insurance provider's stock worth $8,132,000 after buying an additional 73,474 shares in the last quarter. Institutional investors own 95.58% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MTG. Roth Mkm increased their price target on shares of MGIC Investment from $24.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. BTIG Research lifted their target price on MGIC Investment from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Barclays upped their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada reduced their price objective on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.50.

MGIC Investment Trading Down 0.5 %

Shares of MGIC Investment stock traded down $0.13 during trading on Thursday, hitting $24.56. The company's stock had a trading volume of 2,414,681 shares, compared to its average volume of 1,774,922. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 1.25 and a beta of 1.28. The stock has a 50-day moving average price of $25.25 and a two-hundred day moving average price of $23.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.11 and a quick ratio of 1.11. MGIC Investment Co. has a 52 week low of $17.25 and a 52 week high of $26.52.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its quarterly 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 firm had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a return on equity of 15.14% and a net margin of 64.09%. The company's revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. Equities research analysts anticipate that MGIC Investment Co. will post 2.76 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.52 annualized dividend and a yield of 2.12%. MGIC Investment's dividend payout ratio (DPR) is currently 18.31%.

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.