Sanctuary Advisors LLC Reduces Stock Position in MGIC Investment Co. (NYSE:MTG)

Sanctuary Advisors LLC trimmed its stake in shares of MGIC Investment Co. (NYSE:MTG) by 11.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,391 shares of the insurance provider’s stock after selling 17,246 shares during the period. Sanctuary Advisors LLC owned approximately 0.05% of MGIC Investment worth $3,429,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of MGIC Investment by 116.1% during the 3rd quarter. CWM LLC now owns 5,495 shares of the insurance provider’s stock valued at $141,000 after buying an additional 2,952 shares during the period. Creative Planning increased its position in MGIC Investment by 17.9% during the third quarter. Creative Planning now owns 21,128 shares of the insurance provider’s stock valued at $541,000 after acquiring an additional 3,204 shares during the last quarter. Private Advisor Group LLC bought a new position in MGIC Investment in the third quarter valued at about $253,000. DekaBank Deutsche Girozentrale boosted its position in MGIC Investment by 1.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 425,042 shares of the insurance provider’s stock worth $10,719,000 after purchasing an additional 6,065 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of MGIC Investment by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock valued at $3,858,000 after purchasing an additional 540 shares during the period. Institutional investors own 95.58% of the company’s stock.

Analysts Set New Price Targets

MTG has been the topic of a number of research reports. Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $26.00 to $25.00 in a report on Monday, December 9th. Compass Point reiterated a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Royal Bank of Canada reduced their price objective on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. UBS Group lifted their target price on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reduced their price target on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.75.

MGIC Investment Trading Down 1.9 %

Shares of MTG stock opened at $23.97 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48. The stock has a fifty day simple moving average of $24.35 and a two-hundred day simple moving average of $24.78. The firm has a market capitalization of $6.07 billion, a PE ratio of 8.26 and a beta of 1.29. MGIC Investment Co. has a 52-week low of $18.98 and a 52-week high of $26.56.

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

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s payout ratio is currently 17.93%.

Insider Transactions at MGIC Investment

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 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 approximately $1,842,968.50. The trade was a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.05% of the company’s stock.

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.