Sei Investments Co. Decreases Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Sei Investments Co. reduced its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 58.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 277,445 shares of the insurance provider's stock after selling 387,230 shares during the period. Sei Investments Co. owned 0.11% of MGIC Investment worth $6,578,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MTG. EverSource Wealth Advisors LLC raised its position in shares of MGIC Investment by 21.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock valued at $55,000 after purchasing an additional 419 shares during the period. Xponance Inc. lifted its position in shares of MGIC Investment by 1.3% during the fourth quarter. Xponance Inc. now owns 35,320 shares of the insurance provider's stock worth $837,000 after acquiring an additional 442 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in shares of MGIC Investment by 1.6% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider's stock worth $897,000 after acquiring an additional 579 shares during the period. US Bancorp DE boosted its holdings in shares of MGIC Investment by 6.2% in the fourth quarter. US Bancorp DE now owns 10,249 shares of the insurance provider's stock worth $243,000 after acquiring an additional 600 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of MGIC Investment by 6.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider's stock valued at $248,000 after purchasing an additional 608 shares in the last quarter. 95.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on MTG shares. Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and cut their target price for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Compass Point reaffirmed a "neutral" rating and set a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Barclays increased their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their price target on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a research report on Wednesday, January 8th. Finally, UBS Group boosted their target price on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $26.75.

Insider Buying and Selling

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the transaction, the chief accounting officer now directly owns 75,070 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 1.05% of the stock is owned by corporate insiders.

MGIC Investment Price Performance

MTG stock traded down $1.23 during mid-day trading on Friday, hitting $23.09. 3,169,312 shares of the stock were exchanged, compared to its average volume of 1,784,531. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 7.96 and a beta of 1.28. The business has a fifty day moving average price of $24.33 and a 200 day moving average price of $24.65. MGIC Investment Co. has a 12 month low of $19.26 and a 12 month high of $26.56.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. On average, sell-side analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment's payout ratio is presently 17.93%.

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.