Victory Capital Management Inc. Has $57.06 Million Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Victory Capital Management Inc. trimmed its holdings in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,406,354 shares of the insurance provider's stock after selling 408,563 shares during the quarter. Victory Capital Management Inc. owned 0.95% of MGIC Investment worth $57,055,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Nations Financial Group Inc. IA ADV increased its stake in MGIC Investment by 1.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider's stock worth $897,000 after purchasing an additional 579 shares in the last quarter. Lindenwold Advisors INC increased its stake in MGIC Investment by 3.7% during the 3rd quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider's stock worth $425,000 after purchasing an additional 592 shares in the last quarter. US Bancorp DE increased its stake in MGIC Investment by 6.2% during the 4th quarter. US Bancorp DE now owns 10,249 shares of the insurance provider's stock worth $243,000 after purchasing an additional 600 shares in the last quarter. Inspire Investing LLC increased its stake in MGIC Investment by 4.8% during the 4th quarter. Inspire Investing LLC now owns 16,883 shares of the insurance provider's stock worth $400,000 after purchasing an additional 766 shares in the last quarter. Finally, 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. 95.58% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

MTG has been the subject of a number of recent research reports. Barclays upped their price target on MGIC Investment from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their price target on MGIC Investment from $29.00 to $28.00 and set a "market perform" rating for the company in a research report on Wednesday, January 8th. Compass Point reaffirmed a "neutral" rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. UBS Group upped their price target on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and reduced their price target for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, MGIC Investment has a consensus rating of "Hold" and an average price target of $26.75.

MGIC Investment Stock Performance

MTG stock traded up $0.18 during trading hours on Friday, hitting $23.80. 2,018,574 shares of the stock were exchanged, compared to its average volume of 1,722,454. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.78 billion, a P/E ratio of 8.21 and a beta of 1.28. The company has a 50-day simple moving average of $24.38 and a two-hundred day simple moving average of $24.82. MGIC Investment Co. has a 12 month low of $19.26 and a 12 month high of $26.56.

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

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment's payout ratio is currently 17.93%.

Insider Buying and Selling

In related news, CAO Julie K. Sperber sold 4,600 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now directly owns 75,070 shares of the company's stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.05% of the stock is owned by company insiders.

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.