Measured Wealth Private Client Group LLC Sells 2,582 Shares of MGIC Investment Co. (NYSE:MTG)

Measured Wealth Private Client Group LLC cut its position in shares of MGIC Investment Co. (NYSE:MTG) by 4.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,803 shares of the insurance provider’s stock after selling 2,582 shares during the quarter. MGIC Investment accounts for about 0.5% of Measured Wealth Private Client Group LLC’s portfolio, making the stock its 25th biggest holding. Measured Wealth Private Client Group LLC’s holdings in MGIC Investment were worth $1,531,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Capital Wealth Advisors acquired a new position in MGIC Investment in the 3rd quarter valued at about $448,000. State of Alaska Department of Revenue grew its holdings in MGIC Investment by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 150,750 shares of the insurance provider’s stock valued at $3,858,000 after buying an additional 540 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in MGIC Investment by 1.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 425,042 shares of the insurance provider’s stock worth $10,719,000 after buying an additional 6,065 shares during the period. Private Advisor Group LLC acquired a new position in shares of MGIC Investment during the 3rd quarter worth approximately $253,000. Finally, Vest Financial LLC boosted its stake in shares of MGIC Investment by 3.7% in the third quarter. Vest Financial LLC now owns 1,113,258 shares of the insurance provider’s stock valued at $28,499,000 after buying an additional 39,502 shares during the period. 95.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MTG has been the subject of several analyst reports. BTIG Research lifted their price objective on MGIC Investment from $22.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays boosted their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Finally, Roth Mkm upped their price objective on MGIC Investment from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.50.

MGIC Investment Price Performance

Shares of NYSE:MTG opened at $25.36 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $25.32 and its 200-day moving average is $23.01. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.32 and a beta of 1.28. MGIC Investment Co. has a twelve month low of $16.47 and a twelve month high of $26.52.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15. The business had revenue of $305.28 million during the quarter, compared to the consensus estimate of $301.02 million. MGIC Investment had a net margin of 63.19% and a return on equity of 14.97%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. Sell-side analysts forecast that MGIC Investment Co. will post 2.76 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, November 7th. MGIC Investment’s payout ratio is 19.19%.

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.