Wellington Management Group LLP Sells 106,283 Shares of MGIC Investment Co. (NYSE:MTG)

Wellington Management Group LLP lowered its stake in shares of MGIC Investment Co. (NYSE:MTG - Free Report) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,407,526 shares of the insurance provider's stock after selling 106,283 shares during the quarter. Wellington Management Group LLP owned approximately 2.53% of MGIC Investment worth $164,033,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. GSA Capital Partners LLP raised its stake in shares of MGIC Investment by 154.1% in the third quarter. GSA Capital Partners LLP now owns 96,732 shares of the insurance provider's stock valued at $2,476,000 after buying an additional 58,664 shares during the period. Edgestream Partners L.P. raised its stake in MGIC Investment by 153.9% in the 2nd quarter. Edgestream Partners L.P. now owns 244,980 shares of the insurance provider's stock valued at $5,279,000 after acquiring an additional 148,494 shares during the period. Hancock Whitney Corp purchased a new stake in MGIC Investment during the third quarter valued at about $777,000. Panagora Asset Management Inc. boosted its position in MGIC Investment by 14.8% during the second quarter. Panagora Asset Management Inc. now owns 505,155 shares of the insurance provider's stock worth $10,886,000 after purchasing an additional 65,315 shares during the period. Finally, Mackenzie Financial Corp increased its stake in shares of MGIC Investment by 2.9% in the second quarter. Mackenzie Financial Corp now owns 879,674 shares of the insurance provider's stock worth $18,957,000 after purchasing an additional 24,627 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company's stock.

MGIC Investment Stock Performance

NYSE MTG traded down $0.89 during trading hours on Monday, hitting $24.63. The company's stock had a trading volume of 2,063,418 shares, compared to its average volume of 1,735,609. MGIC Investment Co. has a 12 month low of $18.04 and a 12 month high of $26.56. The company's 50 day simple moving average is $25.28 and its two-hundred day simple moving average is $23.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $6.24 billion, a P/E ratio of 8.67, a price-to-earnings-growth ratio of 1.82 and a beta of 1.27.

MGIC Investment (NYSE:MTG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The company had revenue of $306.65 million during the quarter, compared to analysts' expectations of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. MGIC Investment's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, sell-side analysts expect that MGIC Investment Co. will post 2.85 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Thursday, November 7th. MGIC Investment's payout ratio is 18.31%.

Wall Street Analyst Weigh In

Several research analysts have commented on MTG shares. Bank of America downgraded shares of MGIC Investment from a "buy" rating to an "underperform" rating and cut their price target for the company from $26.00 to $25.00 in a report on Monday. Royal Bank of Canada decreased their price target on MGIC Investment from $28.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 6th. Finally, Barclays increased their price target on shares of MGIC Investment from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $25.43.

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.