MGIC Investment Co. (NYSE:MTG) Stake Decreased by Squarepoint Ops LLC

Squarepoint Ops LLC cut its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 47.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 164,180 shares of the insurance provider’s stock after selling 148,894 shares during the period. Squarepoint Ops LLC owned approximately 0.06% of MGIC Investment worth $3,538,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MTG. Vident Advisory LLC boosted its position in MGIC Investment by 21.1% during the 1st quarter. Vident Advisory LLC now owns 212,660 shares of the insurance provider’s stock worth $4,755,000 after acquiring an additional 37,030 shares during the period. Caxton Associates LP bought a new position in MGIC Investment in the 4th quarter valued at about $1,804,000. LSV Asset Management increased its stake in MGIC Investment by 1.6% during the 1st quarter. LSV Asset Management now owns 10,983,325 shares of the insurance provider’s stock valued at $245,587,000 after buying an additional 174,609 shares during the period. Sei Investments Co. raised its position in shares of MGIC Investment by 31.7% during the 1st quarter. Sei Investments Co. now owns 496,778 shares of the insurance provider’s stock worth $11,108,000 after buying an additional 119,476 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of MGIC Investment by 110.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 61,539 shares of the insurance provider’s stock worth $1,376,000 after buying an additional 32,358 shares in the last quarter. 95.58% of the stock is owned by institutional investors.

MGIC Investment Price Performance

Shares of NYSE:MTG opened at $25.39 on Wednesday. The company has a market capitalization of $6.77 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a fifty day moving average of $24.66 and a 200-day moving average of $22.40. MGIC Investment Co. has a one year low of $16.30 and a one year high of $25.93.

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

MGIC Investment Increases Dividend

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

Wall Street Analyst Weigh In

MTG has been the topic of a number of research analyst reports. Roth Mkm raised their price objective on shares of MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. BTIG Research lifted their price target on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Barclays upped their price objective on MGIC Investment from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $24.33.

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.