Teacher Retirement System of Texas Grows Stock Holdings in MGIC Investment Co. (NYSE:MTG)

Teacher Retirement System of Texas boosted its holdings in shares of MGIC Investment Co. (NYSE:MTG) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 373,411 shares of the insurance provider’s stock after purchasing an additional 9,939 shares during the quarter. Teacher Retirement System of Texas owned about 0.15% of MGIC Investment worth $8,854,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. raised its stake in MGIC Investment by 131.9% during the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 938 shares in the last quarter. Venturi Wealth Management LLC raised its stake in MGIC Investment by 102.1% during the fourth 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 in the last quarter. V Square Quantitative Management LLC raised its stake in MGIC Investment by 61.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 794 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in MGIC Investment by 21.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,336 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 419 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of MGIC Investment in the third quarter valued at $69,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Trading Down 0.8 %

NYSE MTG opened at $23.52 on Friday. The company’s 50-day moving average price is $24.29 and its 200-day moving average price is $24.69. 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 has a market cap of $5.71 billion, a PE ratio of 8.11 and a beta of 1.28. MGIC Investment Co. has a 12 month low of $19.26 and a 12 month high of $26.56.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Equities research analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.21%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s payout ratio is 17.93%.

Insiders Place Their Bets

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $24.55, for a total transaction of $112,930.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MTG. Keefe, Bruyette & Woods reduced 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 note on Wednesday, January 8th. Compass Point reissued a “neutral” rating and issued a $27.00 target price (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Barclays increased their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. UBS Group increased their target price on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Bank of America downgraded shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their target price for the company from $26.00 to $25.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, MGIC Investment presently has a consensus rating of “Hold” and a consensus price target of $26.75.

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.