Lingohr Asset Management GmbH Has $320,000 Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Lingohr Asset Management GmbH cut its position in shares of MGIC Investment Co. (NYSE:MTG) by 55.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,534 shares of the insurance provider’s stock after selling 16,701 shares during the quarter. Lingohr Asset Management GmbH’s holdings in MGIC Investment were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new position in MGIC Investment during the third quarter worth about $635,000. KBC Group NV lifted its stake in MGIC Investment by 16.4% during the third quarter. KBC Group NV now owns 7,386 shares of the insurance provider’s stock worth $189,000 after purchasing an additional 1,043 shares during the period. CIBC Asset Management Inc bought a new position in MGIC Investment during the third quarter worth about $202,000. Natixis Advisors LLC lifted its stake in MGIC Investment by 38.2% during the third quarter. Natixis Advisors LLC now owns 152,404 shares of the insurance provider’s stock worth $3,902,000 after purchasing an additional 42,088 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in MGIC Investment by 369.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 57,722 shares of the insurance provider’s stock worth $1,478,000 after purchasing an additional 45,419 shares during the period. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Stock Performance

NYSE:MTG opened at $23.38 on Thursday. 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. MGIC Investment Co. has a 1 year low of $19.26 and a 1 year high of $26.56. The stock has a market capitalization of $5.67 billion, a P/E ratio of 8.06 and a beta of 1.28.

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, 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%. As a group, sell-side analysts anticipate 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 was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Insider Buying and Selling

In related news, CAO Julie K. Sperber sold 4,600 shares of the business’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 value of $112,930.00. Following the completion of the transaction, the chief accounting officer now owns 75,070 shares in the company, valued at $1,842,968.50. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.05% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on MTG. UBS Group raised their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Barclays raised their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. 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 note on Wednesday, February 5th. Keefe, Bruyette & Woods cut their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and cut their target price for the company from $26.00 to $25.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.75.

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.