Los Angeles Capital Management LLC Has $13.86 Million Stock Position in MGIC Investment Co. (NYSE:MTG)

Los Angeles Capital Management LLC lessened its stake in MGIC Investment Co. (NYSE:MTG) by 57.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 584,481 shares of the insurance provider’s stock after selling 804,232 shares during the quarter. Los Angeles Capital Management LLC’s holdings in MGIC Investment were worth $13,858,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTG. Creative Planning raised its stake in MGIC Investment by 17.9% in the third quarter. Creative Planning now owns 21,128 shares of the insurance provider’s stock valued at $541,000 after purchasing an additional 3,204 shares in the last quarter. Private Advisor Group LLC acquired a new position in MGIC Investment in the third quarter valued at about $253,000. DekaBank Deutsche Girozentrale raised its stake in MGIC Investment by 1.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 425,042 shares of the insurance provider’s stock valued at $10,719,000 after purchasing an additional 6,065 shares in the last quarter. State of Alaska Department of Revenue raised its stake in MGIC Investment by 0.4% in the third 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 in the last quarter. Finally, Vanguard Capital Wealth Advisors acquired a new position in MGIC Investment in the third quarter valued at about $448,000. Institutional investors and hedge funds own 95.58% of the company’s stock.

Insider Activity at MGIC Investment

In related news, CAO Julie K. Sperber sold 4,600 shares of the company’s 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 sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at $1,842,968.50. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.05% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on MTG. Compass Point reaffirmed a “neutral” rating and issued a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Barclays lifted their target price on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Bank of America cut MGIC Investment from a “buy” rating to an “underperform” rating and decreased their target price for the company from $26.00 to $25.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods decreased their target price on 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. Finally, 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, February 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.75.

MGIC Investment Stock Performance

NYSE:MTG opened at $24.08 on Wednesday. The stock has a market cap of $6.10 billion, a P/E ratio of 8.30 and a beta of 1.29. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The stock’s 50-day moving average is $24.32 and its 200-day moving average is $24.81. MGIC Investment Co. has a 1-year low of $19.15 and a 1-year high of $26.56.

MGIC Investment (NYSE:MTG) last released its quarterly earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share 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%. Equities research analysts anticipate 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 will be paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, February 18th. MGIC Investment’s payout ratio is presently 17.93%.

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.