Susquehanna International Group LLP Sells 100,214 Shares of MGIC Investment Co. (NYSE:MTG)

Susquehanna International Group LLP decreased its position in MGIC Investment Co. (NYSE:MTG) by 53.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,659 shares of the insurance provider’s stock after selling 100,214 shares during the period. Susquehanna International Group LLP’s holdings in MGIC Investment were worth $2,078,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of MTG. First Trust Advisors LP lifted its holdings in MGIC Investment by 22.4% during the fourth quarter. First Trust Advisors LP now owns 16,008,489 shares of the insurance provider’s stock worth $379,561,000 after acquiring an additional 2,928,595 shares during the period. LSV Asset Management raised its stake in shares of MGIC Investment by 2.3% during the 4th quarter. LSV Asset Management now owns 10,578,342 shares of the insurance provider’s stock worth $250,812,000 after purchasing an additional 235,916 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of MGIC Investment by 8.2% in the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider’s stock worth $130,289,000 after buying an additional 415,586 shares during the last quarter. Invesco Ltd. grew its position in MGIC Investment by 16.6% during the fourth quarter. Invesco Ltd. now owns 4,766,195 shares of the insurance provider’s stock valued at $113,006,000 after buying an additional 677,227 shares during the period. Finally, Norges Bank bought a new position in MGIC Investment during the fourth quarter valued at about $85,908,000. Institutional investors own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MTG shares. Compass Point reiterated a “neutral” rating and issued a $27.00 target price (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their price objective on MGIC Investment from $28.00 to $26.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. Barclays raised their target price on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, UBS Group increased their price target on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.50.

MGIC Investment Stock Down 0.1 %

Shares of MTG opened at $26.22 on Friday. The firm has a market cap of $6.23 billion, a P/E ratio of 9.04 and a beta of 0.91. MGIC Investment Co. has a 1 year low of $20.11 and a 1 year high of $26.59. The stock has a 50 day simple moving average of $24.15 and a two-hundred day simple moving average of $24.46. 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 released its earnings results on Wednesday, April 30th. The insurance provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.66 by $0.09. The company had revenue of $306.23 million for the quarter, compared to analyst estimates of $306.66 million. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 EPS. On average, analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Thursday, May 8th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, May 8th. MGIC Investment’s dividend payout ratio (DPR) is presently 17.28%.

MGIC Investment announced that its board has approved a share buyback plan on Thursday, April 24th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the insurance provider to repurchase up to 12.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.05% of the stock is currently owned by company insiders.

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.