Legato Capital Management LLC Sells 38,130 Shares of MGIC Investment Co. (NYSE:MTG)

Legato Capital Management LLC decreased its position in MGIC Investment Co. (NYSE:MTG) by 43.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,802 shares of the insurance provider’s stock after selling 38,130 shares during the period. Legato Capital Management LLC’s holdings in MGIC Investment were worth $1,181,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of MTG. Hara Capital LLC purchased a new stake in shares of MGIC Investment during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new position in MGIC Investment in the 3rd quarter valued at $33,000. UMB Bank n.a. increased its position in shares of MGIC Investment by 131.9% during the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 938 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of MGIC Investment during the 3rd quarter worth $69,000. Finally, Covestor Ltd boosted 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 worth $87,000 after buying an additional 1,341 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Down 2.5 %

Shares of NYSE MTG opened at $24.12 on Thursday. The business has a 50-day simple moving average of $24.43 and a two-hundred day simple moving average of $24.78. MGIC Investment Co. has a 52 week low of $18.92 and a 52 week high of $26.56. The company has a market cap of $6.11 billion, a P/E ratio of 8.32, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data 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%. Research analysts anticipate that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be given a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.16%. MGIC Investment’s dividend payout ratio (DPR) is presently 17.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MTG shares. Compass Point restated a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and lowered their target price for the company from $26.00 to $25.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods cut their price target on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. Barclays boosted their price objective on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada cut their target price on shares of 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.25.

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.