MGIC Investment Co. (NYSE:MTG) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in MGIC Investment Co. (NYSE:MTG) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,579,328 shares of the insurance provider’s stock after selling 45,444 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.02% of MGIC Investment worth $61,156,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. US Bancorp DE lifted its position in MGIC Investment by 6.2% during the fourth quarter. US Bancorp DE now owns 10,249 shares of the insurance provider’s stock valued at $243,000 after buying an additional 600 shares in the last quarter. A&I Financial Services LLC acquired a new position in MGIC Investment during the fourth quarter valued at approximately $454,000. Proficio Capital Partners LLC acquired a new position in MGIC Investment during the fourth quarter valued at approximately $653,000. NewEdge Wealth LLC lifted its position in MGIC Investment by 11.6% during the fourth quarter. NewEdge Wealth LLC now owns 1,837,821 shares of the insurance provider’s stock valued at $43,575,000 after buying an additional 190,450 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in MGIC Investment by 8.2% during the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider’s stock valued at $130,289,000 after buying an additional 415,586 shares in the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Down 1.0 %

Shares of NYSE:MTG opened at $22.58 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 company has a fifty day simple moving average of $24.33 and a 200 day simple moving average of $24.79. The firm has a market cap of $5.48 billion, a PE ratio of 7.78 and a beta of 1.28. MGIC Investment Co. has a 12-month low of $19.26 and a 12-month high of $26.56.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. On average, equities research analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.30%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Insider Buying and Selling

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the sale, the chief accounting officer now owns 75,070 shares in the company, valued at $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MTG shares. Keefe, Bruyette & Woods reduced their price target on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. Barclays lifted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Compass Point reissued a “neutral” rating and set a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Finally, UBS Group boosted their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, MGIC Investment presently has an average rating of “Hold” and an average target price of $26.75.

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.