Teachers Retirement System of The State of Kentucky Sells 27,675 Shares of MGIC Investment Co. (NYSE:MTG)

Teachers Retirement System of The State of Kentucky lowered its holdings in MGIC Investment Co. (NYSE:MTG - Free Report) by 15.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,565 shares of the insurance provider's stock after selling 27,675 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.06% of MGIC Investment worth $4,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of MGIC Investment by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider's stock valued at $326,375,000 after buying an additional 556,859 shares during the period. State Street Corp lifted its holdings in MGIC Investment by 0.8% in the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider's stock valued at $232,767,000 after acquiring an additional 73,851 shares during the period. American Century Companies Inc. boosted its position in MGIC Investment by 1.5% in the second quarter. American Century Companies Inc. now owns 3,395,208 shares of the insurance provider's stock worth $73,167,000 after purchasing an additional 50,307 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of MGIC Investment by 0.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,438,727 shares of the insurance provider's stock valued at $31,005,000 after purchasing an additional 4,602 shares during the period. Finally, Vest Financial LLC grew its position in MGIC Investment by 3.7% during the third quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider's stock valued at $28,499,000 after buying an additional 39,502 shares during the period. 95.58% of the stock is owned by institutional investors.

MGIC Investment Price Performance

Shares of NYSE MTG traded down $0.31 during mid-day trading on Friday, reaching $24.55. The company's stock had a trading volume of 2,152,502 shares, compared to its average volume of 1,733,938. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. MGIC Investment Co. has a 52 week low of $18.68 and a 52 week high of $26.56. The stock has a fifty day moving average of $25.22 and a two-hundred day moving average of $24.00. The firm has a market capitalization of $6.22 billion, a PE ratio of 8.64, a P/E/G ratio of 1.77 and a beta of 1.27.

MGIC Investment (NYSE:MTG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The business had revenue of $306.65 million during the quarter, compared to analyst estimates 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 last year, the firm posted $0.64 EPS. As a group, sell-side analysts anticipate that MGIC Investment Co. will post 2.85 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a $0.13 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.52 annualized dividend and a yield of 2.12%. MGIC Investment's dividend payout ratio is currently 18.31%.

Analysts Set New Price Targets

Several research analysts have weighed in on MTG shares. Bank of America downgraded shares of MGIC Investment from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Royal Bank of Canada lowered their target price on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 6th. Barclays boosted their price target on MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $29.00 price objective on shares of MGIC Investment in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, MGIC Investment has an average rating of "Hold" and a consensus 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.