Swiss National Bank Sells 10,500 Shares of MGIC Investment Co. (NYSE:MTG)

Swiss National Bank lowered its position in MGIC Investment Co. (NYSE:MTG) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 509,800 shares of the insurance provider’s stock after selling 10,500 shares during the quarter. Swiss National Bank owned about 0.20% of MGIC Investment worth $12,087,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MTG. Franklin Resources Inc. increased its stake in MGIC Investment by 6.5% in the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after acquiring an additional 98,369 shares during the last quarter. Vestcor Inc increased its stake in MGIC Investment by 559.3% in the third quarter. Vestcor Inc now owns 60,094 shares of the insurance provider’s stock valued at $1,538,000 after acquiring an additional 50,979 shares during the last quarter. Ritholtz Wealth Management increased its stake in MGIC Investment by 13.4% in the fourth quarter. Ritholtz Wealth Management now owns 91,690 shares of the insurance provider’s stock valued at $2,174,000 after acquiring an additional 10,864 shares during the last quarter. Hancock Whitney Corp bought a new position in MGIC Investment in the third quarter valued at $777,000. Finally, Janney Montgomery Scott LLC increased its stake in MGIC Investment by 33.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 40,398 shares of the insurance provider’s stock valued at $958,000 after acquiring an additional 10,130 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

Insiders Place Their Bets

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on MTG shares. Compass Point reissued a “neutral” rating and issued a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. UBS Group raised their price objective on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods reduced their price objective on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. Barclays raised their price objective 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. Finally, Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and reduced their price objective for the company 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 given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.75.

MGIC Investment Stock Performance

MGIC Investment stock opened at $23.69 on Friday. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $24.27 and a 200-day moving average of $24.71. The firm has a market cap of $5.75 billion, a P/E ratio of 8.17 and a beta of 1.28. MGIC Investment Co. has a 1-year low of $19.26 and a 1-year high of $26.56.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 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%. Sell-side analysts expect that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.20%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

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.