Thrivent Financial for Lutherans Has $14.90 Million Holdings in MGIC Investment Co. (NYSE:MTG)

Thrivent Financial for Lutherans trimmed its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 21.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 628,439 shares of the insurance provider’s stock after selling 167,488 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MGIC Investment were worth $14,901,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. William Blair Investment Management LLC raised its stake in shares of MGIC Investment by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,364,725 shares of the insurance provider’s stock valued at $32,358,000 after acquiring an additional 32,980 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of MGIC Investment by 1.5% in the fourth quarter. Corient Private Wealth LLC now owns 150,602 shares of the insurance provider’s stock worth $3,568,000 after buying an additional 2,210 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of MGIC Investment by 7.5% during the 4th quarter. Natixis Advisors LLC now owns 163,881 shares of the insurance provider’s stock worth $3,886,000 after buying an additional 11,477 shares during the period. Picton Mahoney Asset Management grew its stake in MGIC Investment by 50.1% in the 4th quarter. Picton Mahoney Asset Management now owns 13,461 shares of the insurance provider’s stock valued at $319,000 after buying an additional 4,493 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in MGIC Investment by 3.5% in the 4th quarter. First Eagle Investment Management LLC now owns 758,879 shares of the insurance provider’s stock worth $17,993,000 after acquiring an additional 25,623 shares during the period. 95.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays raised their price target on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Compass Point reiterated a “neutral” rating and set a $27.00 price target (up from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. UBS Group upped their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.75.

MGIC Investment Stock Down 0.8 %

MTG opened at $23.52 on Friday. MGIC Investment Co. has a fifty-two week low of $19.26 and a fifty-two week high of $26.56. The company has a market capitalization of $5.71 billion, a P/E ratio of 8.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. The firm’s fifty day moving average price is $24.29 and its two-hundred day moving average price is $24.69.

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

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were issued a $0.13 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.21%. MGIC Investment’s payout ratio is presently 17.93%.

Insider Buying and Selling

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction on Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the transaction, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.05% of the stock is owned by corporate insiders.

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.