Teachers Retirement System of The State of Kentucky Sells 22,578 Shares of MGIC Investment Co. (NYSE:MTG)

Teachers Retirement System of The State of Kentucky lessened its position in MGIC Investment Co. (NYSE:MTG - Free Report) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 133,987 shares of the insurance provider's stock after selling 22,578 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.05% of MGIC Investment worth $3,176,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MTG. UMB Bank n.a. raised its stake in MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock worth $39,000 after buying an additional 938 shares during the period. Venturi Wealth Management LLC grew its position in shares of MGIC Investment by 102.1% in the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 918 shares during the period. V Square Quantitative Management LLC increased its stake in MGIC Investment by 61.9% during the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock worth $49,000 after purchasing an additional 794 shares in the last quarter. Physician Wealth Advisors Inc. acquired a new stake in MGIC Investment during the 4th quarter worth approximately $54,000. Finally, EverSource Wealth Advisors LLC boosted its holdings 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 buying an additional 419 shares during the period. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the sale, the chief accounting officer now owns 75,070 shares of the company's stock, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.05% of the company's stock.

MGIC Investment Price Performance

NYSE:MTG opened at $24.18 on Thursday. The company has a market cap of $5.86 billion, a P/E ratio of 8.34 and a beta of 0.93. The firm's fifty day moving average price is $23.87 and its two-hundred day moving average price is $24.48. MGIC Investment Co. has a one year low of $19.98 and a one year high of $26.56. 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 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Equities analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were paid a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.15%. MGIC Investment's dividend payout ratio (DPR) is presently 17.93%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MTG. Compass Point reissued a "neutral" rating and issued a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their price target on shares of MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. UBS Group raised their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Finally, Barclays boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, MGIC Investment currently has a consensus rating of "Hold" and an average price target of $26.50.

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.

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