MGIC Investment Co. (NYSE:MTG) Shares Sold by Profund Advisors LLC

Profund Advisors LLC lowered its stake in MGIC Investment Co. (NYSE:MTG) by 21.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,944 shares of the insurance provider’s stock after selling 3,536 shares during the quarter. Profund Advisors LLC’s holdings in MGIC Investment were worth $279,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of MGIC Investment in the fourth quarter valued at $563,000. Corient Private Wealth LLC lifted its holdings in MGIC Investment by 316.4% in the 4th quarter. Corient Private Wealth LLC now owns 123,700 shares of the insurance provider’s stock valued at $2,386,000 after purchasing an additional 93,994 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of MGIC Investment by 55.0% during the 4th quarter. Parallel Advisors LLC now owns 5,414 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 1,922 shares during the last quarter. TFO Wealth Partners LLC grew its holdings in shares of MGIC Investment by 676,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 13,528 shares of the insurance provider’s stock worth $261,000 after buying an additional 13,526 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its holdings in shares of MGIC Investment by 96.4% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 67,203 shares of the insurance provider’s stock worth $1,296,000 after buying an additional 32,989 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MTG shares. BTIG Research upped their price objective on shares of MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Barclays increased their price target on MGIC Investment from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Roth Mkm lifted their price objective on MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods upgraded MGIC Investment from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $24.00 to $25.00 in a research report on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, MGIC Investment currently has an average rating of “Hold” and a consensus price target of $24.33.

MGIC Investment Stock Down 0.0 %

Shares of MTG opened at $25.37 on Friday. MGIC Investment Co. has a fifty-two week low of $16.30 and a fifty-two week high of $25.93. The company’s fifty day moving average is $24.55 and its two-hundred day moving average is $22.28. The firm has a market cap of $6.76 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13.

MGIC Investment (NYSE:MTG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.15. MGIC Investment had a return on equity of 14.97% and a net margin of 63.19%. The business had revenue of $305.28 million for the quarter, compared to analyst estimates of $301.02 million. During the same period last year, the company posted $0.68 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts forecast that MGIC Investment Co. will post 2.76 earnings per share for the current year.

MGIC Investment Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.13 dividend. This is a positive change from MGIC Investment’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Thursday, August 8th. MGIC Investment’s payout ratio is currently 20.00%.

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.