Teachers Retirement System of The State of Kentucky Has $3.18 Million Position in MGIC Investment Co. (NYSE:MTG)

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of MGIC Investment Co. (NYSE:MTG) by 14.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 133,987 shares of the insurance provider’s stock after selling 22,578 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in MGIC Investment were worth $3,176,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Barclays PLC increased its holdings in MGIC Investment by 75.1% in the 3rd quarter. Barclays PLC now owns 457,706 shares of the insurance provider’s stock valued at $11,716,000 after buying an additional 196,252 shares during the period. World Investment Advisors LLC acquired a new stake in shares of MGIC Investment during the 3rd quarter worth approximately $619,000. Franklin Resources Inc. increased its stake in MGIC Investment by 6.5% in the third quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after acquiring an additional 98,369 shares during the last quarter. DGS Capital Management LLC raised its position in MGIC Investment by 6.2% during the third quarter. DGS Capital Management LLC now owns 85,797 shares of the insurance provider’s stock valued at $2,196,000 after purchasing an additional 4,974 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in MGIC Investment by 4.5% during the fourth quarter. Nordea Investment Management AB now owns 424,767 shares of the insurance provider’s stock worth $10,114,000 after purchasing an additional 18,399 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Performance

MGIC Investment stock opened at $24.18 on Thursday. The business has a 50 day moving average of $23.87 and a 200-day moving average of $24.48. 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 1 year low of $19.98 and a 1 year high of $26.56. The company has a market capitalization of $5.86 billion, a P/E ratio of 8.34 and a beta of 0.93.

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

MGIC Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.15%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s payout ratio is presently 17.93%.

Insider Buying and Selling at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction that occurred on Friday, February 21st. The stock was 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. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MTG shares. Barclays lifted their price target on 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 boosted their target price on 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 reduced their price target on shares of MGIC Investment from $28.00 to $26.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. Finally, Compass Point reiterated a “neutral” rating and set a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, MGIC Investment has an average rating of “Hold” and an average price target of $26.50.

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.