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

California Public Employees Retirement System lessened its position in shares of MGIC Investment Co. (NYSE:MTG) by 10.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 526,931 shares of the insurance provider’s stock after selling 60,068 shares during the quarter. California Public Employees Retirement System owned approximately 0.21% of MGIC Investment worth $12,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. EverSource Wealth Advisors LLC raised its position 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 worth $55,000 after acquiring an additional 419 shares during the last quarter. Xponance Inc. lifted its stake in MGIC Investment by 1.3% in the 4th quarter. Xponance Inc. now owns 35,320 shares of the insurance provider’s stock valued at $837,000 after buying an additional 442 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in MGIC Investment by 1.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 37,821 shares of the insurance provider’s stock valued at $897,000 after buying an additional 579 shares during the last quarter. US Bancorp DE increased its position in MGIC Investment by 6.2% during the fourth quarter. US Bancorp DE now owns 10,249 shares of the insurance provider’s stock worth $243,000 after buying an additional 600 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of MGIC Investment by 6.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,457 shares of the insurance provider’s stock worth $248,000 after acquiring an additional 608 shares during the last quarter. 95.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays lifted their price objective on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. UBS Group boosted their price objective on shares of MGIC Investment from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods reduced their price objective 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. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $26.00 to $25.00 in a research report on Monday, December 9th. Finally, Compass Point reissued a “neutral” rating and set a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $26.75.

Insider Buying and Selling at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the sale, the chief accounting officer now directly owns 75,070 shares in the company, valued at $1,842,968.50. This trade represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.05% of the stock is owned by corporate insiders.

MGIC Investment Price Performance

MGIC Investment stock opened at $23.09 on Friday. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.60 billion, a P/E ratio of 7.96 and a beta of 1.28. The firm has a fifty day moving average of $24.33 and a 200-day moving average of $24.65. MGIC Investment Co. has a 52-week low of $19.26 and a 52-week high of $26.56.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. As a group, analysts predict that MGIC Investment Co. will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.25%. The ex-dividend date was Tuesday, February 18th. MGIC Investment’s dividend payout ratio (DPR) is 17.93%.

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.