American Century Companies Inc. Sells 22,564 Shares of MGIC Investment Co. (NYSE:MTG)

American Century Companies Inc. lowered its stake in MGIC Investment Co. (NYSE:MTG) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,034,509 shares of the insurance provider’s stock after selling 22,564 shares during the quarter. American Century Companies Inc.’s holdings in MGIC Investment were worth $71,948,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. UMB Bank n.a. lifted its stake in shares of MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 938 shares during the period. Venturi Wealth Management LLC lifted its position in MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after buying an additional 918 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of MGIC Investment by 61.9% during the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after buying an additional 794 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of MGIC Investment by 21.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock worth $55,000 after buying an additional 419 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of MGIC Investment in the 3rd quarter worth about $69,000. 95.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MGIC Investment

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 stock was sold at an average price of $24.55, for a total value of $112,930.00. Following the transaction, the chief accounting officer now directly 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 SEC, which is accessible through this hyperlink. Company insiders own 1.05% of the company’s stock.

MGIC Investment Price Performance

NYSE MTG opened at $24.30 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 8.38 and a beta of 1.28. The stock has a 50-day moving average of $24.32 and a 200 day moving average of $24.67. MGIC Investment Co. has a one year low of $19.26 and a one year high of $26.56.

MGIC Investment (NYSE:MTG) last released 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 forecast that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were paid a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.14%. MGIC Investment’s dividend payout ratio (DPR) is currently 17.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MTG shares. UBS Group upped their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Bank of America lowered 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 report on Monday, December 9th. Barclays boosted their target price on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Compass Point restated a “neutral” rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.75.

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.