Sei Investments Co. Lowers Stake in MGIC Investment Co. (NYSE:MTG)

Sei Investments Co. cut its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 58.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 277,445 shares of the insurance provider's stock after selling 387,230 shares during the period. Sei Investments Co. owned about 0.11% of MGIC Investment worth $6,578,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in MGIC Investment by 131.9% in the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 938 shares during the period. Venturi Wealth Management LLC grew its position in MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after buying an additional 918 shares during the period. V Square Quantitative Management LLC increased its holdings in MGIC Investment by 61.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock valued at $49,000 after buying an additional 794 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in MGIC Investment by 21.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider's stock worth $55,000 after acquiring an additional 419 shares during the period. Finally, Savant Capital LLC boosted its stake in shares of MGIC Investment by 11.8% during the 4th quarter. Savant Capital LLC now owns 8,857 shares of the insurance provider's stock worth $210,000 after acquiring an additional 933 shares during the last quarter. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

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MGIC Investment Price Performance

Shares of NYSE MTG traded down $0.98 during midday trading on Friday, reaching $23.34. 1,098,163 shares of the stock traded hands, compared to its average volume of 1,782,537. The company's 50 day moving average is $24.37 and its 200 day moving average is $24.68. MGIC Investment Co. has a one year low of $19.26 and a one year high of $26.56. The stock has a market capitalization of $5.66 billion, a PE ratio of 8.06 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25.

MGIC Investment (NYSE:MTG - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 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, equities research analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.23%. MGIC Investment's payout ratio is 17.93%.

Insider Buying and Selling

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction on 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 owns 75,070 shares in the company, 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 SEC, which is accessible through this link. 1.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MTG. Compass Point reaffirmed a "neutral" rating and issued a $27.00 target price (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. UBS Group lifted their price objective on MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. 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 report on Wednesday, February 5th. Bank of America downgraded shares of MGIC Investment from a "buy" rating to an "underperform" rating and lowered their price target for the company from $26.00 to $25.00 in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, MGIC Investment has a consensus rating of "Hold" and a consensus target price of $26.75.

MGIC Investment 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.