MGIC Investment Co. (NYSE:MTG) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its position in shares of MGIC Investment Co. (NYSE:MTG) by 21.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 138,148 shares of the insurance provider’s stock after selling 38,699 shares during the period. Public Employees Retirement System of Ohio’s holdings in MGIC Investment were worth $3,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Hara Capital LLC acquired a new stake in MGIC Investment during the third quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in shares of MGIC Investment during the 3rd quarter valued at about $33,000. Brooklyn Investment Group purchased a new position in shares of MGIC Investment in the 3rd quarter valued at about $69,000. Covestor Ltd raised its holdings in MGIC Investment by 65.5% in the 3rd quarter. Covestor Ltd now owns 3,387 shares of the insurance provider’s stock worth $87,000 after purchasing an additional 1,341 shares during the period. Finally, Blue Trust Inc. boosted its position in MGIC Investment by 233.4% during the second quarter. Blue Trust Inc. now owns 4,985 shares of the insurance provider’s stock worth $111,000 after purchasing an additional 3,490 shares in the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Stock Down 1.2 %

NYSE MTG opened at $24.55 on Monday. The business has a fifty day moving average price of $25.22 and a 200 day moving average price of $24.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $6.22 billion, a P/E ratio of 8.64, a P/E/G ratio of 1.77 and a beta of 1.27. MGIC Investment Co. has a one year low of $18.68 and a one year high of $26.56.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. The business had revenue of $306.65 million during the quarter, compared to analysts’ expectations of $306.03 million. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. Research analysts anticipate that MGIC Investment Co. will post 2.85 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is 18.31%.

Analysts Set New Price Targets

A number of analysts have recently commented on MTG shares. Barclays boosted their price objective on MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Bank of America cut shares of MGIC Investment from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $29.00 target price on shares of MGIC Investment in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada reduced their price target on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.00.

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.