Donald Smith & CO. Inc. Decreases Position in MGIC Investment Co. (NYSE:MTG)

Donald Smith & CO. Inc. reduced its stake in shares of MGIC Investment Co. (NYSE:MTG) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,438,921 shares of the insurance provider’s stock after selling 128,826 shares during the quarter. MGIC Investment accounts for approximately 1.7% of Donald Smith & CO. Inc.’s portfolio, making the stock its 26th largest holding. Donald Smith & CO. Inc. owned about 1.24% of MGIC Investment worth $66,337,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in MGIC Investment in the 4th quarter worth approximately $30,000. Blue Trust Inc. lifted its position in shares of MGIC Investment by 49.2% in the 4th quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 849 shares during the period. Planned Solutions Inc. bought a new stake in shares of MGIC Investment during the 4th quarter valued at about $66,000. USA Financial Formulas purchased a new position in shares of MGIC Investment during the third quarter valued at about $100,000. Finally, Janiczek Wealth Management LLC raised its stake in MGIC Investment by 29.5% in the fourth quarter. Janiczek Wealth Management LLC now owns 5,572 shares of the insurance provider’s stock worth $107,000 after buying an additional 1,269 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Roth Mkm increased their target price on MGIC Investment from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada raised their price objective on MGIC Investment from $18.00 to $21.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $24.00 price target (up from $23.50) on shares of MGIC Investment in a research report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.08.

MGIC Investment Stock Up 0.4 %

NYSE:MTG traded up $0.08 on Monday, reaching $20.56. 1,940,074 shares of the stock traded hands, compared to its average volume of 2,040,803. The company’s fifty day simple moving average is $20.45 and its 200 day simple moving average is $19.15. MGIC Investment Co. has a 12 month low of $13.97 and a 12 month high of $22.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 1.69 and a beta of 1.24.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $284.72 million for the quarter, compared to the consensus estimate of $302.96 million. MGIC Investment had a return on equity of 14.82% and a net margin of 61.72%. Equities analysts predict that MGIC Investment Co. will post 2.43 EPS for the current fiscal year.

MGIC Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Thursday, May 9th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, May 8th. MGIC Investment’s payout ratio is currently 18.47%.

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.