Blue Trust Inc. Trims Holdings in MGIC Investment Co. (NYSE:MTG)

Blue Trust Inc. trimmed its stake in MGIC Investment Co. (NYSE:MTG) by 55.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,303 shares of the insurance provider’s stock after selling 7,866 shares during the period. Blue Trust Inc.’s holdings in MGIC Investment were worth $149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp raised its stake in shares of MGIC Investment by 0.8% in the 3rd quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock valued at $232,767,000 after acquiring an additional 73,851 shares during the period. Franklin Resources Inc. grew its holdings in shares of 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 purchasing an additional 98,369 shares in the last quarter. Vest Financial LLC grew its holdings in shares of MGIC Investment by 33.4% in the fourth quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider’s stock valued at $35,213,000 after purchasing an additional 371,882 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of MGIC Investment by 1.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 807,485 shares of the insurance provider’s stock valued at $19,145,000 after purchasing an additional 9,031 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of MGIC Investment in the third quarter valued at approximately $13,535,000. 95.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MTG shares. Royal Bank of Canada dropped their price objective on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Keefe, Bruyette & Woods dropped 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 report on Wednesday, January 8th. Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $26.00 to $25.00 in a report on Monday, December 9th. UBS Group boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Compass Point reiterated a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, MGIC Investment currently has a consensus rating of “Hold” and a consensus price target of $26.75.

MGIC Investment Stock Down 0.5 %

Shares of NYSE:MTG opened at $24.44 on Friday. The company has a market capitalization of $6.19 billion, a PE ratio of 8.43 and a beta of 1.29. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a twelve month low of $18.98 and a twelve month high of $26.56. The firm has a 50 day simple moving average of $24.36 and a 200-day simple moving average of $24.78.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share 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%. On average, equities analysts predict that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.13%. MGIC Investment’s dividend payout ratio is presently 17.93%.

About MGIC Investment

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.