Heartland Advisors Inc. Sells 52,181 Shares of MGIC Investment Co. (NYSE:MTG)

Heartland Advisors Inc. reduced its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 687,870 shares of the insurance provider’s stock after selling 52,181 shares during the quarter. MGIC Investment accounts for about 0.9% of Heartland Advisors Inc.’s holdings, making the stock its 29th biggest holding. Heartland Advisors Inc.’s holdings in MGIC Investment were worth $16,309,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. UMB Bank n.a. lifted its holdings in shares of MGIC Investment by 131.9% in the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 938 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in MGIC Investment by 102.1% in 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 last quarter. V Square Quantitative Management LLC boosted 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 valued at $49,000 after buying an additional 794 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position 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 in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of MGIC Investment during the third quarter worth $69,000. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Trading Up 0.5 %

MTG opened at $24.85 on Friday. The company has a fifty day moving average price of $24.34 and a two-hundred day moving average price of $24.67. MGIC Investment Co. has a 1-year low of $19.26 and a 1-year high of $26.56. The company has a market cap of $6.03 billion, a P/E ratio of 8.57 and a beta of 1.28. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last issued its earnings results 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 return on equity of 14.86% and a net margin of 63.18%. Analysts predict that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s dividend payout ratio is currently 17.93%.

Insider Activity at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MTG. Keefe, Bruyette & Woods cut their price objective on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating on the stock in a report on Wednesday, January 8th. Barclays increased their price target on MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Compass Point reissued a “neutral” rating and set a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Finally, UBS Group upped 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 assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, MGIC Investment presently has a consensus rating of “Hold” and an average price target of $26.75.

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.