Metis Global Partners LLC Sells 1,136 Shares of MGIC Investment Co. (NYSE:MTG)

Metis Global Partners LLC reduced its stake in shares of MGIC Investment Co. (NYSE:MTG) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,737 shares of the insurance provider’s stock after selling 1,136 shares during the period. Metis Global Partners LLC’s holdings in MGIC Investment were worth $300,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Kingsview Wealth Management LLC purchased a new stake in MGIC Investment during the first quarter valued at approximately $266,000. O Shaughnessy Asset Management LLC raised its stake in shares of MGIC Investment by 4.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 119,646 shares of the insurance provider’s stock worth $2,675,000 after purchasing an additional 4,906 shares during the last quarter. Seven Eight Capital LP acquired a new stake in MGIC Investment during the 1st quarter valued at approximately $445,000. CANADA LIFE ASSURANCE Co boosted its holdings in MGIC Investment by 5.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 303,583 shares of the insurance provider’s stock valued at $6,787,000 after purchasing an additional 15,958 shares during the last quarter. Finally, Vident Advisory LLC boosted its stake in shares of MGIC Investment by 21.1% in the first quarter. Vident Advisory LLC now owns 212,660 shares of the insurance provider’s stock worth $4,755,000 after buying an additional 37,030 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Down 0.4 %

MTG stock opened at $24.80 on Tuesday. MGIC Investment Co. has a fifty-two week low of $17.31 and a fifty-two week high of $26.52. The company’s 50 day moving average price is $25.18 and its 200 day moving average price is $23.41. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.11. The firm had revenue of $306.65 million for the quarter, compared to the consensus estimate of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, equities research analysts anticipate that MGIC Investment Co. will post 2.81 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays raised 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. Royal Bank of Canada reduced their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Roth Mkm raised their target price on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, BTIG Research lifted their price target on shares of MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, MGIC Investment presently has an average rating of “Moderate Buy” and a consensus target price of $25.50.

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.