Trexquant Investment LP Trims Stake in MGIC Investment Co. (NYSE:MTG)

Trexquant Investment LP reduced its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 66.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,273 shares of the insurance provider's stock after selling 203,729 shares during the quarter. Trexquant Investment LP's holdings in MGIC Investment were worth $2,449,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of MGIC Investment by 0.8% during the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider's stock valued at $232,767,000 after buying an additional 73,851 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of MGIC Investment by 8.2% during the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider's stock worth $130,289,000 after acquiring an additional 415,586 shares in the last quarter. Norges Bank purchased a new stake in MGIC Investment during the fourth quarter valued at approximately $85,908,000. NewEdge Wealth LLC boosted its stake in MGIC Investment by 11.6% in the fourth quarter. NewEdge Wealth LLC now owns 1,837,821 shares of the insurance provider's stock valued at $43,575,000 after acquiring an additional 190,450 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in MGIC Investment by 1.6% in the fourth quarter. Franklin Resources Inc. now owns 1,647,936 shares of the insurance provider's stock worth $39,072,000 after purchasing an additional 26,098 shares during the last quarter. Institutional investors own 95.58% of the company's stock.

Insider Activity at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment 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 $1,842,968.50. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.05% of the stock is owned by corporate insiders.

MGIC Investment Price Performance

Shares of NYSE MTG traded up $0.72 during trading on Friday, hitting $23.93. The company had a trading volume of 2,341,615 shares, compared to its average volume of 1,799,697. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $24.01 and a two-hundred day simple moving average of $24.55. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 8.25 and a beta of 0.93.

MGIC Investment (NYSE:MTG - Get Free Report) last released its 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 return on equity of 14.86% and a net margin of 63.18%. On average, research analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment's payout ratio is 17.93%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays increased their price objective on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their price target on MGIC Investment from $28.00 to $26.00 and set a "market perform" rating for the company in a research note on Tuesday. Compass Point restated a "neutral" rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Finally, UBS Group raised their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price 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.