Tidal Investments LLC Sells 63,086 Shares of MGIC Investment Co. (NYSE:MTG)

Tidal Investments LLC lessened its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 77.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,448 shares of the insurance provider's stock after selling 63,086 shares during the quarter. Tidal Investments LLC's holdings in MGIC Investment were worth $472,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of MGIC Investment by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,145,206 shares of the insurance provider's stock worth $326,375,000 after acquiring an additional 556,859 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of MGIC Investment during the third quarter valued at approximately $13,535,000. WINTON GROUP Ltd grew its holdings in MGIC Investment by 440.3% during the second quarter. WINTON GROUP Ltd now owns 521,001 shares of the insurance provider's stock worth $11,228,000 after buying an additional 424,580 shares in the last quarter. Vest Financial LLC raised its position in MGIC Investment by 22.7% in the 2nd quarter. Vest Financial LLC now owns 1,073,756 shares of the insurance provider's stock valued at $23,139,000 after buying an additional 198,553 shares during the last quarter. Finally, Barclays PLC boosted its holdings in MGIC Investment by 75.1% during the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider's stock worth $11,716,000 after acquiring an additional 196,252 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MTG. Bank of America lowered shares of MGIC Investment from a "buy" rating to an "underperform" rating and dropped their price target for the company from $26.00 to $25.00 in a research report on Monday, December 9th. Royal Bank of Canada decreased their price target on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Wednesday, November 6th. Barclays upped their price objective on MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $29.00 price target on shares of MGIC Investment in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $26.00.

MGIC Investment Stock Performance

Shares of NYSE MTG traded down $0.04 during midday trading on Monday, hitting $23.62. The company's stock had a trading volume of 318,719 shares, compared to its average volume of 1,742,098. The stock has a fifty day moving average price of $25.07 and a 200 day moving average price of $24.15. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 1.75 and a beta of 1.27. MGIC Investment Co. has a one year low of $18.68 and a one year high of $26.56. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG - Get Free Report) last released 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 company 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 14.99% and a net margin of 64.09%. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. On average, research analysts forecast that MGIC Investment Co. will post 2.85 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, November 7th. MGIC Investment's dividend payout ratio (DPR) is presently 18.31%.

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.