MGIC Investment Co. (NYSE:MTG) Shares Sold by Versor Investments LP

Versor Investments LP trimmed its holdings in MGIC Investment Co. (NYSE:MTG) by 38.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 31,400 shares of the insurance provider’s stock after selling 19,500 shares during the period. Versor Investments LP’s holdings in MGIC Investment were worth $744,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Nations Financial Group Inc. IA ADV boosted its stake in shares of MGIC Investment by 1.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider’s stock worth $897,000 after purchasing an additional 579 shares during the last quarter. Lindenwold Advisors INC boosted its stake in shares of MGIC Investment by 3.7% during the 3rd quarter. Lindenwold Advisors INC now owns 16,611 shares of the insurance provider’s stock worth $425,000 after purchasing an additional 592 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of MGIC Investment by 4.8% during the 4th quarter. Inspire Investing LLC now owns 16,883 shares of the insurance provider’s stock worth $400,000 after purchasing an additional 766 shares during the last quarter. V Square Quantitative Management LLC boosted its stake 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 worth $49,000 after purchasing an additional 794 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 918 shares during the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the firm’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 transaction, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.05% of the stock is currently owned by insiders.

MGIC Investment Trading Up 1.3 %

Shares of MTG stock opened at $24.58 on Friday. The firm has a market cap of $6.23 billion, a P/E ratio of 8.47 and a beta of 1.29. MGIC Investment Co. has a 1-year low of $19.26 and a 1-year high of $26.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The firm’s 50-day simple moving average is $24.37 and its 200-day simple moving average is $24.81.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS 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%. As a group, equities analysts forecast that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.12%. MGIC Investment’s payout ratio is 17.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MTG shares. Compass Point reaffirmed a “neutral” rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Royal Bank of Canada decreased their price target on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. 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 increased their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. One investment 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 MarketBeat.com, the company presently 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.