MGIC Investment Co. (NYSE:MTG) Shares Sold by Schroder Investment Management Group

by · The Markets Daily

Schroder Investment Management Group trimmed its holdings in MGIC Investment Co. (NYSE:MTG – Free Report) by 25.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 591,085 shares of the insurance provider’s stock after selling 200,816 shares during the quarter. Schroder Investment Management Group owned 0.23% of MGIC Investment worth $13,979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MTG. Norges Bank bought a new stake in shares of MGIC Investment in the 4th quarter worth approximately $85,908,000. Allianz Asset Management GmbH increased its holdings in shares of MGIC Investment by 8.2% in the fourth quarter. Allianz Asset Management GmbH now owns 5,495,115 shares of the insurance provider’s stock valued at $130,289,000 after buying an additional 415,586 shares in the last quarter. Amundi acquired a new stake in shares of MGIC Investment during the 4th quarter valued at $8,914,000. Vest Financial LLC boosted its stake in shares of MGIC Investment by 33.4% during the 4th quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider’s stock worth $35,213,000 after acquiring an additional 371,882 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of MGIC Investment in the 4th quarter worth $8,362,000. Institutional investors own 95.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MTG shares. Compass Point reiterated a “neutral” rating and issued a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods dropped their target price on shares of MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 8th. UBS Group upped their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Barclays lifted their price objective 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 given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.75.

Read Our Latest Stock Report on MTG

MGIC Investment Stock Performance

MTG stock opened at $24.32 on Friday. The firm has a 50 day simple moving average of $24.37 and a 200 day simple moving average of $24.68. MGIC Investment Co. has a 52 week low of $19.26 and a 52 week high of $26.56. The stock has a market cap of $5.90 billion, a P/E ratio of 8.38 and a beta of 1.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 0.48.

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

MGIC Investment Dividend Announcement

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

Insiders Place Their Bets

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 SEC, which is available at this hyperlink. Insiders own 1.05% of the company’s stock.

About MGIC Investment

(Free Report)

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.

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