Los Angeles Capital Management LLC Has $13.86 Million Stock Position in MGIC Investment Co. (NYSE:MTG)

Los Angeles Capital Management LLC decreased its stake in shares of MGIC Investment Co. (NYSE:MTG) by 57.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 584,481 shares of the insurance provider’s stock after selling 804,232 shares during the period. Los Angeles Capital Management LLC owned 0.23% of MGIC Investment worth $13,858,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hara Capital LLC bought a new stake in MGIC Investment during the 3rd quarter worth about $25,000. UMB Bank n.a. raised its holdings in MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 938 shares during the last quarter. Venturi Wealth Management LLC raised its holdings 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 worth $43,000 after purchasing an additional 918 shares during the last quarter. V Square Quantitative Management LLC raised its holdings 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 purchasing an additional 794 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in MGIC Investment during the 3rd quarter worth about $69,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

Insider Buying and Selling at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction on Friday, February 21st. The stock was 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 of the company’s stock, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.05% of the company’s stock.

MGIC Investment Trading Up 0.8 %

Shares of MGIC Investment stock opened at $24.08 on Wednesday. The business has a fifty day simple moving average of $24.32 and a two-hundred day simple moving average of $24.81. MGIC Investment Co. has a 1 year low of $19.15 and a 1 year high of $26.56. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 8.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25.

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

MGIC Investment Announces Dividend

The firm also recently declared 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. This represents a $0.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, February 18th. MGIC Investment’s dividend payout ratio is 17.93%.

Wall Street Analyst Weigh In

MTG has been the subject of a number of recent analyst reports. UBS Group upped their price target on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada lowered their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Barclays upped their price target on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their price objective on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. Finally, Compass Point reiterated a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.