Sei Investments Co. Decreases Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Sei Investments Co. trimmed its position in MGIC Investment Co. (NYSE:MTG) by 58.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 277,445 shares of the insurance provider’s stock after selling 387,230 shares during the quarter. Sei Investments Co.’s holdings in MGIC Investment were worth $6,578,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MTG. UMB Bank n.a. boosted its stake in 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 in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of MGIC Investment by 102.1% in the fourth quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock worth $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% during the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 794 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in MGIC Investment by 21.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 419 shares during the period. Finally, Savant Capital LLC boosted its position in MGIC Investment by 11.8% in the 4th quarter. Savant Capital LLC now owns 8,857 shares of the insurance provider’s stock worth $210,000 after purchasing an additional 933 shares in the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Insider Transactions at MGIC Investment

In other MGIC Investment 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.05% of the company’s stock.

MGIC Investment Trading Up 1.7 %

MTG stock opened at $24.83 on Tuesday. MGIC Investment Co. has a 12-month low of $19.26 and a 12-month high of $26.56. The business’s 50-day moving average is $24.35 and its 200 day moving average is $24.67. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 8.56 and a beta of 1.28.

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

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is 17.93%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MTG shares. UBS Group boosted 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. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $26.00 to $25.00 in a research note on Monday, December 9th. Barclays raised their target price 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 reaffirmed a “neutral” rating and issued a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods dropped their price objective on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. One investment 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.com, the stock has an average rating of “Hold” and a consensus price target of $26.75.

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.