Measured Wealth Private Client Group LLC Reduces Stake in MGIC Investment Co. (NYSE:MTG)

Measured Wealth Private Client Group LLC reduced its stake in shares of MGIC Investment Co. (NYSE:MTG) by 3.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,892 shares of the insurance provider’s stock after selling 1,911 shares during the period. Measured Wealth Private Client Group LLC’s holdings in MGIC Investment were worth $1,373,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. State Street Corp lifted its holdings in MGIC Investment by 0.8% during the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock valued at $232,767,000 after purchasing an additional 73,851 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of MGIC Investment by 6.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after buying an additional 98,369 shares in the last quarter. Vest Financial LLC boosted its holdings in MGIC Investment by 3.7% in the 3rd quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider’s stock worth $28,499,000 after buying an additional 39,502 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in MGIC Investment by 1.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 807,485 shares of the insurance provider’s stock valued at $19,145,000 after buying an additional 9,031 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in MGIC Investment during the 3rd quarter valued at $13,535,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MTG shares. 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. Compass Point reaffirmed a “neutral” rating and set a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a report on Wednesday. Barclays increased their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday. Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $26.00 to $25.00 in a research note on Monday, December 9th. Finally, Royal Bank of Canada lowered their target price on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. One 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. According to MarketBeat.com, MGIC Investment currently has an average rating of “Hold” and a consensus price target of $26.25.

MGIC Investment Trading Down 0.3 %

Shares of MGIC Investment stock opened at $25.44 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. MGIC Investment Co. has a 1 year low of $18.68 and a 1 year high of $26.56. The firm has a market cap of $6.44 billion, a PE ratio of 8.96, a PEG ratio of 2.02 and a beta of 1.29. The company has a 50 day simple moving average of $24.51 and a two-hundred day simple moving average of $24.75.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data 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 net margin of 64.09% and a return on equity of 14.99%. Analysts expect that MGIC Investment Co. will post 2.85 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Tuesday, February 18th. MGIC Investment’s payout ratio is currently 18.31%.

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.