Versor Investments LP Trims Holdings in MGIC Investment Co. (NYSE:MTG)

Versor Investments LP decreased its holdings in MGIC Investment Co. (NYSE:MTG) by 38.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,400 shares of the insurance provider’s stock after selling 19,500 shares during the quarter. Versor Investments LP’s holdings in MGIC Investment were worth $744,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp raised its position in MGIC Investment by 0.8% in the 3rd quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock valued at $232,767,000 after purchasing an additional 73,851 shares during the last quarter. Allianz Asset Management GmbH raised its position in MGIC Investment by 8.2% in the 4th quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider’s stock valued at $130,289,000 after purchasing an additional 415,586 shares during the last quarter. NewEdge Wealth LLC raised its position in MGIC Investment by 11.6% in the 4th quarter. NewEdge Wealth LLC now owns 1,837,821 shares of the insurance provider’s stock valued at $43,575,000 after purchasing an additional 190,450 shares during the last quarter. Franklin Resources Inc. raised its position in MGIC Investment by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after purchasing an additional 98,369 shares during the last quarter. Finally, Vest Financial LLC raised its position in MGIC Investment by 33.4% in the 4th quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider’s stock valued at $35,213,000 after purchasing an additional 371,882 shares during the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MTG shares. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Royal Bank of Canada cut their price objective 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. Compass Point restated a “neutral” rating and set a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods cut their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. Finally, Barclays upped their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.75.

Insider Activity

In related news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total value of $112,930.00. Following the sale, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.05% of the company’s stock.

MGIC Investment Stock Performance

Shares of MTG opened at $24.58 on Friday. The company has a 50-day simple moving average of $24.37 and a 200-day simple moving average of $24.81. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $6.23 billion, a PE ratio of 8.47 and a beta of 1.29. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Equities research analysts predict that MGIC Investment Co. will post 2.71 earnings per share for the current fiscal year.

MGIC Investment Dividend Announcement

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

MGIC Investment Company 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.