MGIC Investment Co. (NYSE:MTG) Holdings Decreased by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in shares of MGIC Investment Co. (NYSE:MTG) by 10.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 526,931 shares of the insurance provider’s stock after selling 60,068 shares during the quarter. California Public Employees Retirement System’s holdings in MGIC Investment were worth $12,494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in shares of MGIC Investment by 131.9% during the fourth 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 during the period. Venturi Wealth Management LLC boosted its position in MGIC Investment by 102.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 918 shares during the period. V Square Quantitative Management LLC increased its position in MGIC Investment by 61.9% in the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock worth $49,000 after buying an additional 794 shares during the period. EverSource Wealth Advisors LLC lifted its stake 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 buying an additional 419 shares during the last quarter. Finally, Savant Capital LLC grew its position in shares of MGIC Investment by 11.8% during the fourth quarter. Savant Capital LLC now owns 8,857 shares of the insurance provider’s stock worth $210,000 after acquiring an additional 933 shares during the last quarter. Institutional investors and hedge funds own 95.58% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. Compass Point reissued a “neutral” rating and issued a $27.00 price objective (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. UBS Group raised their target price on MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Barclays boosted their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating 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 issued a buy rating to the company. According to MarketBeat, MGIC Investment currently has an average rating of “Hold” and a consensus target price of $26.75.

MGIC Investment Trading Down 5.1 %

Shares of NYSE MTG opened at $23.09 on Friday. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a 12 month low of $19.26 and a 12 month high of $26.56. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 7.96 and a beta of 1.28. The business has a fifty day simple moving average of $24.33 and a 200-day simple moving average of $24.65.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Sell-side analysts predict that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, February 18th. MGIC Investment’s payout ratio is 17.93%.

About MGIC Investment

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.