Dimensional Fund Advisors LP Decreases Holdings in MGIC Investment Co. (NYSE:MTG)

Dimensional Fund Advisors LP trimmed its stake in MGIC Investment Co. (NYSE:MTG) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,861,397 shares of the insurance provider’s stock after selling 190,198 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.06% of MGIC Investment worth $352,364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. UMB Bank n.a. grew its stake in MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock valued at $39,000 after buying an additional 938 shares in the last quarter. Venturi Wealth Management LLC grew 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 acquiring an additional 918 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in MGIC Investment by 61.9% during the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 794 shares during the period. Physician Wealth Advisors Inc. purchased a new stake in MGIC Investment in the 4th quarter worth approximately $54,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in MGIC Investment by 21.9% in the 4th 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 during the period. 95.58% of the stock is owned by institutional investors.

MGIC Investment Stock Up 0.8 %

Shares of NYSE MTG opened at $24.03 on Monday. The stock has a market capitalization of $5.83 billion, a P/E ratio of 8.28 and a beta of 0.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. MGIC Investment Co. has a one year low of $19.81 and a one year high of $26.56. The firm’s 50 day simple moving average is $23.90 and its two-hundred day simple moving average is $24.50.

MGIC Investment (NYSE:MTG) last posted 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 net margin of 63.18% and a return on equity of 14.86%. As a group, analysts expect that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Tuesday, February 18th were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.52 annualized dividend and a yield of 2.16%. MGIC Investment’s payout ratio is 17.93%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MTG. UBS Group upped their price target on shares of MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods decreased their target price on MGIC Investment from $28.00 to $26.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. Compass Point reiterated a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Finally, Barclays raised 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.50.

Insiders Place Their Bets

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 sale, the chief accounting officer now owns 75,070 shares of the company’s stock, valued at $1,842,968.50. This trade 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. Insiders own 1.41% of the company’s stock.

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.