Heartland Advisors Inc. Sells 52,181 Shares of MGIC Investment Co. (NYSE:MTG)

Heartland Advisors Inc. cut its holdings in MGIC Investment Co. (NYSE:MTG) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 687,870 shares of the insurance provider’s stock after selling 52,181 shares during the period. MGIC Investment comprises approximately 0.9% of Heartland Advisors Inc.’s investment portfolio, making the stock its 29th biggest holding. Heartland Advisors Inc. owned approximately 0.27% of MGIC Investment worth $16,309,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. UMB Bank n.a. increased its stake in MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after buying an additional 938 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of MGIC Investment by 102.1% in the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 918 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in MGIC Investment by 61.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 794 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in MGIC Investment by 21.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 419 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in MGIC Investment in the third quarter valued at approximately $69,000. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Trading Up 0.5 %

Shares of MGIC Investment stock opened at $24.85 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The firm has a 50-day moving average of $24.34 and a 200-day moving average of $24.67. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56. The stock has a market cap of $6.03 billion, a PE ratio of 8.57 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.09%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Insider Buying and Selling at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the firm’s 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 transaction, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MTG. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Barclays upped their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their price objective on shares of 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. Compass Point reaffirmed a “neutral” rating and issued a $27.00 target price (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Finally, UBS Group raised their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. 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. Based on data from MarketBeat.com, MGIC Investment 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.