MGIC Investment Co. (NYSE:MTG) Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. trimmed its position in MGIC Investment Co. (NYSE:MTG) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,089 shares of the insurance provider’s stock after selling 1,141 shares during the period. Ameritas Investment Partners Inc.’s holdings in MGIC Investment were worth $1,344,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board lifted its stake in shares of MGIC Investment by 76.7% during the first quarter. Ontario Teachers Pension Plan Board now owns 140,524 shares of the insurance provider’s stock worth $3,142,000 after buying an additional 60,993 shares during the period. Jupiter Asset Management Ltd. increased its holdings in MGIC Investment by 134.8% in the first quarter. Jupiter Asset Management Ltd. now owns 1,537,972 shares of the insurance provider’s stock valued at $34,389,000 after buying an additional 882,984 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in MGIC Investment in the first quarter valued at $266,000. First Eagle Investment Management LLC increased its stake in shares of MGIC Investment by 15.2% during the first quarter. First Eagle Investment Management LLC now owns 689,756 shares of the insurance provider’s stock worth $15,423,000 after purchasing an additional 91,200 shares in the last quarter. Finally, Foundry Partners LLC increased its stake in shares of MGIC Investment by 11.8% during the first quarter. Foundry Partners LLC now owns 379,745 shares of the insurance provider’s stock worth $8,491,000 after purchasing an additional 40,142 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MTG shares. Keefe, Bruyette & Woods raised shares of MGIC Investment from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $24.00 to $25.00 in a research note on Monday, June 3rd. UBS Group boosted their price target on shares of MGIC Investment from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Finally, Barclays boosted their price target on shares of MGIC Investment from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.17.

MGIC Investment Trading Down 0.6 %

Shares of MTG stock traded down $0.15 during trading hours on Wednesday, hitting $23.50. The company had a trading volume of 916,669 shares, compared to its average volume of 1,862,010. The company’s fifty day moving average is $21.46 and its 200 day moving average is $20.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.05 and a quick ratio of 1.05. MGIC Investment Co. has a fifty-two week low of $16.30 and a fifty-two week high of $23.90. The stock has a market capitalization of $6.26 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 7.94 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.05. MGIC Investment had a net margin of 62.85% and a return on equity of 15.00%. The firm had revenue of $294.40 million for the quarter, compared to the consensus estimate of $301.62 million. During the same period in the prior year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts expect that MGIC Investment Co. will post 2.52 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Thursday, May 9th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Wednesday, May 8th. MGIC Investment’s payout ratio is 17.69%.

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.