Operose Advisors LLC Decreases Stock Position in MGIC Investment Co. (NYSE:MTG)

Operose Advisors LLC decreased its stake in MGIC Investment Co. (NYSE:MTG) by 36.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,269 shares of the insurance provider’s stock after selling 10,000 shares during the quarter. Operose Advisors LLC’s holdings in MGIC Investment were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. UMB Bank n.a. boosted its holdings 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 valued at $39,000 after purchasing an additional 938 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 918 shares in the last quarter. V Square Quantitative Management LLC lifted its stake 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 worth $49,000 after purchasing an additional 794 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new position in shares of MGIC Investment in the 4th quarter valued at $54,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of MGIC Investment by 21.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 419 shares during the last quarter. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group increased their price objective on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods lowered their price objective on shares of MGIC Investment from $28.00 to $26.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 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 report on Wednesday, February 5th. Finally, Compass Point reissued a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, MGIC Investment has a consensus rating of “Hold” and an average target price of $26.50.

Insider Buying and Selling

In related news, CAO Julie K. Sperber sold 4,600 shares of the business’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 sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at $1,842,968.50. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.05% of the stock is currently owned by insiders.

MGIC Investment Stock Up 1.6 %

MTG opened at $24.32 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. MGIC Investment Co. has a 12 month low of $19.26 and a 12 month high of $26.56. The stock has a market capitalization of $5.90 billion, a P/E ratio of 8.39 and a beta of 0.93. The business has a 50 day simple moving average of $23.99 and a 200-day simple moving average of $24.54.

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

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.14%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s payout ratio is currently 17.93%.

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.