Strs Ohio Has $2.78 Million Position in MGIC Investment Co. (NYSE:MTG)

Strs Ohio lowered its holdings in MGIC Investment Co. (NYSE:MTG) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 144,109 shares of the insurance provider’s stock after selling 14,896 shares during the quarter. Strs Ohio owned about 0.05% of MGIC Investment worth $2,779,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of MTG. First Trust Advisors LP boosted its stake in MGIC Investment by 450.2% in the first quarter. First Trust Advisors LP now owns 14,943,450 shares of the insurance provider’s stock worth $200,541,000 after purchasing an additional 12,227,328 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of MGIC Investment by 38.4% during the first quarter. Goldman Sachs Group Inc. now owns 10,458,631 shares of the insurance provider’s stock worth $141,715,000 after acquiring an additional 2,904,381 shares during the last quarter. Millennium Management LLC raised its position in shares of MGIC Investment by 78.2% during the fourth quarter. Millennium Management LLC now owns 5,491,214 shares of the insurance provider’s stock worth $71,386,000 after acquiring an additional 2,409,682 shares during the last quarter. Vanguard Group Inc. raised its position in shares of MGIC Investment by 6.0% during the third quarter. Vanguard Group Inc. now owns 37,980,396 shares of the insurance provider’s stock worth $486,909,000 after acquiring an additional 2,137,706 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of MGIC Investment by 1,232.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,091 shares of the insurance provider’s stock worth $22,764,000 after acquiring an additional 1,619,665 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

MGIC Investment Trading Up 1.0 %

NYSE MTG opened at $19.58 on Friday. The firm has a market cap of $5.28 billion, a P/E ratio of 7.86, a P/E/G ratio of 1.60 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50-day moving average is $20.34 and its 200-day moving average is $18.99. MGIC Investment Co. has a one year low of $13.97 and a one year high of $22.43.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $284.72 million for the quarter, compared to analyst estimates of $302.96 million. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. Sell-side analysts anticipate that MGIC Investment Co. will post 2.43 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Thursday, February 15th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.35%. MGIC Investment’s payout ratio is presently 18.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MTG shares. Roth Mkm boosted their target price on MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada increased their target price on MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $24.00 price target (up previously from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.08.

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.