MGIC Investment Co. (NYSE:MTG) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 315,258 shares of the insurance provider’s stock after selling 1,445 shares during the period. New York State Teachers Retirement System owned 0.12% of MGIC Investment worth $7,475,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC raised its position 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 buying an additional 794 shares during the last quarter. Asset Management One Co. Ltd. raised its position in MGIC Investment by 311.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 66,493 shares of the insurance provider’s stock worth $1,575,000 after buying an additional 50,316 shares during the last quarter. Van ECK Associates Corp raised its position in MGIC Investment by 30.1% during the 4th quarter. Van ECK Associates Corp now owns 210,017 shares of the insurance provider’s stock worth $4,980,000 after buying an additional 48,641 shares during the last quarter. Savant Capital LLC raised its position in MGIC Investment by 11.8% during the 4th quarter. Savant Capital LLC now owns 8,857 shares of the insurance provider’s stock worth $210,000 after buying an additional 933 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in MGIC Investment during the 4th quarter worth $1,166,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Stock Performance

NYSE:MTG opened at $24.58 on Thursday. 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 50-day moving average price of $24.36 and a two-hundred day moving average price of $24.78. MGIC Investment Co. has a twelve month low of $18.98 and a twelve month high of $26.56. The company has a market capitalization of $6.23 billion, a P/E ratio of 8.48 and a beta of 1.29.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. As a group, research analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.12%. MGIC Investment’s dividend payout ratio (DPR) is currently 17.93%.

Analyst Ratings Changes

A number of equities analysts have commented on MTG shares. Royal Bank of Canada cut their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. 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, December 9th. Keefe, Bruyette & Woods cut their price target on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. Barclays increased their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Finally, Compass Point reiterated a “neutral” rating and issued a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, MGIC Investment has an average rating of “Hold” and a consensus price target of $26.75.

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.