EagleClaw Capital Managment LLC Sells 1,050 Shares of MGIC Investment Co. (NYSE:MTG)

EagleClaw Capital Managment LLC lessened its position in MGIC Investment Co. (NYSE:MTG) by 1.8% during the third quarter, Holdings Channel reports. The institutional investor owned 56,300 shares of the insurance provider’s stock after selling 1,050 shares during the quarter. EagleClaw Capital Managment LLC’s holdings in MGIC Investment were worth $1,441,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in shares of MGIC Investment by 482.7% in the second quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 946 shares in the last quarter. Hara Capital LLC bought a new stake in MGIC Investment during the 3rd quarter worth about $25,000. V Square Quantitative Management LLC bought a new stake in MGIC Investment during the 3rd quarter worth about $33,000. GAMMA Investing LLC boosted its stake in shares of 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 buying an additional 1,328 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of MGIC Investment by 65.5% in the 3rd quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock valued at $87,000 after acquiring an additional 1,341 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

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

MGIC Investment Stock Performance

MGIC Investment stock traded up $0.01 during mid-day trading on Wednesday, hitting $24.58. 14,925 shares of the company’s stock traded hands, compared to its average volume of 1,752,921. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a 50 day simple moving average of $25.17 and a two-hundred day simple moving average of $23.47. MGIC Investment Co. has a fifty-two week low of $17.31 and a fifty-two week high of $26.52. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 1.81 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last posted its earnings results on Monday, November 4th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.11. The company had revenue of $306.65 million during the quarter, compared to analysts’ expectations of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. MGIC Investment’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. On average, research analysts expect that MGIC Investment Co. will post 2.81 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, November 7th. MGIC Investment’s payout ratio is 18.31%.

About MGIC Investment

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.