MGIC Investment Co. (NYSE:MTG) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its holdings in MGIC Investment Co. (NYSE:MTG) by 15.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 141,367 shares of the insurance provider’s stock after selling 26,115 shares during the period. Prudential Financial Inc. owned about 0.06% of MGIC Investment worth $3,352,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MTG. UMB Bank n.a. grew its holdings in shares of MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 938 shares during the last quarter. Venturi Wealth Management LLC boosted its position in MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 918 shares during the period. V Square Quantitative Management LLC grew its stake 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. EverSource Wealth Advisors LLC increased its position in MGIC Investment by 21.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock worth $55,000 after buying an additional 419 shares during the period. Finally, Savant Capital LLC lifted its stake in MGIC Investment by 11.8% in the fourth quarter. Savant Capital LLC now owns 8,857 shares of the insurance provider’s stock valued at $210,000 after buying an additional 933 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Trading Up 1.5 %

Shares of MTG stock opened at $25.56 on Thursday. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The stock has a 50-day simple moving average of $24.38 and a 200 day simple moving average of $24.68. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56. The stock has a market capitalization of $6.20 billion, a P/E ratio of 8.81 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts expect that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s dividend payout ratio is presently 17.93%.

Insider Transactions at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the completion of the transaction, the chief accounting officer now owns 75,070 shares in the company, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Compass Point restated a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods cut their price target on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. Barclays increased their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. UBS Group lifted their target price on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.