MGIC Investment Co. (NYSE:MTG) Position Trimmed by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 1.7% in the 4th quarter, Holdings Channel reports. The firm owned 2,579,328 shares of the insurance provider’s stock after selling 45,444 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in MGIC Investment were worth $61,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in MTG. UMB Bank n.a. grew its position 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 worth $39,000 after acquiring an additional 938 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 918 shares during the last quarter. V Square Quantitative Management LLC grew its position in shares of 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 during the last quarter. Brooklyn Investment Group bought a new position in shares of MGIC Investment during the third quarter worth about $69,000. Finally, Covestor Ltd grew its position in shares of MGIC Investment by 65.5% during the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 1,341 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

Insider Activity

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were 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 directly owns 75,070 shares in the company, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

MTG has been the subject of several recent research reports. 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. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods lowered their price target 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. UBS Group increased their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Barclays increased their target price 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. One research 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, the stock has a consensus rating of “Hold” and a consensus target price of $26.75.

MGIC Investment Stock Performance

Shares of MTG opened at $22.58 on Thursday. The firm has a 50-day moving average price of $24.33 and a 200 day moving average price of $24.79. The firm has a market capitalization of $5.48 billion, a PE ratio of 7.78 and a beta of 1.28. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, beating 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 anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.30%. MGIC Investment’s dividend payout ratio (DPR) is 17.93%.

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.