Securian Asset Management Inc. Trims Position in MGIC Investment Co. (NYSE:MTG)

Securian Asset Management Inc. trimmed its position in MGIC Investment Co. (NYSE:MTG) by 5.0% during the 4th quarter, HoldingsChannel reports. The firm owned 19,154 shares of the insurance provider’s stock after selling 1,004 shares during the period. Securian Asset Management Inc.’s holdings in MGIC Investment were worth $454,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. lifted its stake in shares of MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 938 shares during the period. Venturi Wealth Management LLC increased its holdings in MGIC Investment by 102.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after buying an additional 918 shares during the last quarter. V Square Quantitative Management LLC raised its position in MGIC Investment by 61.9% in the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 794 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of MGIC Investment by 21.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 419 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of MGIC Investment during the 3rd quarter valued at $69,000. 95.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the 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 sale, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MTG. Barclays upped their price target on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report 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 note on Wednesday, February 19th. 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. Compass Point restated a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Finally, Bank of America downgraded MGIC Investment from a “buy” rating to an “underperform” rating and decreased their target price for the company from $26.00 to $25.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, MGIC Investment presently has an average rating of “Hold” and an average target price of $26.75.

MGIC Investment Price Performance

Shares of MGIC Investment stock opened at $23.04 on Tuesday. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a 12 month low of $19.26 and a 12 month high of $26.56. The stock has a 50 day moving average of $24.28 and a 200 day moving average of $24.74. The firm has a market cap of $5.59 billion, a PE ratio of 7.95 and a beta of 1.28.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results 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, research analysts expect that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were given a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.26%. MGIC Investment’s dividend payout ratio is currently 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.