Victory Capital Management Inc. Sells 8,212 Shares of MGIC Investment Co. (NYSE:MTG)

Victory Capital Management Inc. reduced its stake in shares of MGIC Investment Co. (NYSE:MTG) by 0.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,814,917 shares of the insurance provider’s stock after selling 8,212 shares during the quarter. Victory Capital Management Inc. owned about 1.09% of MGIC Investment worth $72,062,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Hara Capital LLC purchased a new position in shares of MGIC Investment during the third quarter valued at approximately $25,000. Versant Capital Management Inc boosted its position in shares of MGIC Investment by 482.7% during the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock valued at $25,000 after buying an additional 946 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of MGIC Investment during the third quarter valued at approximately $33,000. GAMMA Investing LLC boosted its position in shares of MGIC Investment by 76.2% during the second quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider’s stock valued at $66,000 after buying an additional 1,328 shares during the period. Finally, Covestor Ltd boosted its position in shares of MGIC Investment by 65.5% during the third quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock valued at $87,000 after buying an additional 1,341 shares during the period. 95.58% of the stock is owned by institutional investors.

MGIC Investment Stock Down 1.0 %

Shares of NYSE MTG opened at $24.69 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 1.81 and a beta of 1.28. The stock has a 50 day moving average price of $25.21 and a 200 day moving average price of $23.32. MGIC Investment Co. has a 52-week low of $17.25 and a 52-week high of $26.52.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. The firm had revenue of $306.65 million during the quarter, compared to analyst estimates of $306.03 million. MGIC Investment had a return on equity of 14.99% and a net margin of 64.09%. MGIC Investment’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. Sell-side analysts expect that MGIC Investment Co. will post 2.81 earnings per share for the current year.

MGIC Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.52 dividend on an annualized basis and a yield of 2.11%. MGIC Investment’s dividend payout ratio is currently 18.31%.

Analyst Ratings Changes

Several brokerages have issued reports on MTG. Barclays boosted their target price on MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada dropped their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. BTIG Research boosted their target price on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Roth Mkm boosted their target price on MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

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.