MGIC Investment Co. (NYSE:MTG) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC cut its stake in MGIC Investment Co. (NYSE:MTG) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,610,928 shares of the insurance provider’s stock after selling 37,165 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in MGIC Investment were worth $41,240,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Versant Capital Management Inc increased its stake in MGIC Investment by 482.7% in the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 946 shares during the period. V Square Quantitative Management LLC acquired a new position in MGIC Investment in the 3rd quarter valued at about $33,000. Fidelis Capital Partners LLC purchased a new stake in MGIC Investment during the 1st quarter valued at approximately $50,000. GAMMA Investing LLC lifted its position in MGIC Investment by 76.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider’s stock worth $66,000 after acquiring an additional 1,328 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of MGIC Investment by 600.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the insurance provider’s stock valued at $94,000 after purchasing an additional 3,600 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays upped their price target on MGIC Investment from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. BTIG Research upped their price objective on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Roth Mkm lifted their target price on shares of MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, MGIC Investment has an average rating of “Moderate Buy” and an average target price of $24.50.

MGIC Investment Trading Down 2.6 %

NYSE:MTG opened at $24.89 on Friday. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 1.35 and a beta of 1.28. MGIC Investment Co. has a 1 year low of $16.32 and a 1 year high of $26.52. The stock has a fifty day moving average price of $25.25 and a two-hundred day moving average price of $22.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.11 and a current ratio of 1.11.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.62 by $0.15. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The firm had revenue of $305.28 million during the quarter, compared to analysts’ expectations of $301.02 million. During the same quarter last year, the business earned $0.68 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that MGIC Investment Co. will post 2.76 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is 19.19%.

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.