AlphaQuest LLC Sells 71,933 Shares of MGIC Investment Co. (NYSE:MTG)

AlphaQuest LLC lessened its position in MGIC Investment Co. (NYSE:MTG) by 60.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,885 shares of the insurance provider’s stock after selling 71,933 shares during the quarter. AlphaQuest LLC’s holdings in MGIC Investment were worth $1,112,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec acquired a new stake in MGIC Investment in the 3rd quarter worth $13,535,000. Allianz Asset Management GmbH grew its stake in MGIC Investment by 8.2% during the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider’s stock worth $130,289,000 after buying an additional 415,586 shares during the last quarter. Amundi bought a new stake in MGIC Investment during the fourth quarter worth about $8,914,000. Vest Financial LLC grew its stake in MGIC Investment by 33.4% during the fourth quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider’s stock worth $35,213,000 after buying an additional 371,882 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in MGIC Investment during the fourth quarter worth about $8,362,000. Institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MTG shares. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods lowered their target price on shares of 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 upped their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. UBS Group increased their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Compass Point reiterated a “neutral” rating and issued a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, MGIC Investment presently has an average rating of “Hold” and a consensus price target of $26.75.

MGIC Investment Stock Performance

NYSE MTG opened at $23.80 on Monday. The firm has a 50-day moving average of $24.38 and a 200-day moving average of $24.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The stock has a market cap of $5.78 billion, a PE ratio of 8.21 and a beta of 1.28. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 earnings per share for the quarter, topping 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%. On average, sell-side analysts anticipate that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.19%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is 17.93%.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.05% of the company’s stock.

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.