MGIC Investment Corporation $MTG Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its position in MGIC Investment Corporation (NYSE:MTG) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,076,069 shares of the insurance provider’s stock after selling 25,273 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.29% of MGIC Investment worth $399,339,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MTG. True Wealth Design LLC boosted its position in shares of MGIC Investment by 262.5% during the 2nd quarter. True Wealth Design LLC now owns 1,004 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 727 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in shares of MGIC Investment during the third quarter valued at about $28,000. Hantz Financial Services Inc. lifted its holdings in MGIC Investment by 3,067.6% in the second quarter. Hantz Financial Services Inc. now owns 1,077 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 1,043 shares during the period. SBI Securities Co. Ltd. increased its stake in MGIC Investment by 61.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,041 shares of the insurance provider’s stock valued at $30,000 after buying an additional 395 shares during the period. Finally, Employees Retirement System of Texas bought a new stake in shares of MGIC Investment during the 2nd quarter worth about $32,000. 95.58% of the stock is owned by institutional investors and hedge funds.

MGIC Investment Price Performance

Shares of NYSE MTG opened at $26.90 on Thursday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $27.30 and its two-hundred day moving average price is $27.77. The company has a market cap of $5.78 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 2.12 and a beta of 0.83. MGIC Investment Corporation has a twelve month low of $21.94 and a twelve month high of $29.97.

MGIC Investment (NYSE:MTG) last released its quarterly earnings data on Monday, February 2nd. The insurance provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. MGIC Investment had a net margin of 60.84% and a return on equity of 14.33%. During the same quarter in the previous year, the business earned $0.72 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts predict that MGIC Investment Corporation will post 2.71 EPS for the current year.

MGIC Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, February 17th. MGIC Investment’s payout ratio is 19.11%.

Insider Activity at MGIC Investment

In related news, EVP Paula C. Maggio sold 20,000 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $27.51, for a total transaction of $550,200.00. Following the completion of the sale, the executive vice president owned 114,689 shares of the company’s stock, valued at $3,155,094.39. This represents a 14.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy J. Mattke sold 139,203 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $26.51, for a total transaction of $3,690,271.53. Following the completion of the transaction, the chief executive officer directly owned 822,588 shares in the company, valued at approximately $21,806,807.88. This represents a 14.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 189,203 shares of company stock valued at $5,058,572 over the last quarter. 1.05% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays cut their price target on MGIC Investment from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Wednesday, February 4th. Weiss Ratings downgraded shares of MGIC Investment from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, February 5th. Finally, Keefe, Bruyette & Woods increased their target price on shares of MGIC Investment from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, MGIC Investment has a consensus rating of “Hold” and an average target price of $28.00.

MGIC Investment Company Profile

MGIC Investment Corporation (NYSE: MTG) is a leading provider of private mortgage insurance in the United States. Established in 1957 as the nation’s first private mortgage insurer, MGIC helps lenders manage credit risk and facilitates homeownership by protecting mortgage loans against default. Headquartered in Milwaukee, Wisconsin, the company operates through its principal subsidiary, Mortgage Guaranty Insurance Corporation, and maintains relationships with a broad network of originators and servicers nationwide.

The company’s primary business activity involves issuing mortgage insurance policies that enable borrowers to purchase homes with down payments below traditional lending thresholds.