Sanctuary Advisors LLC Sells 17,246 Shares of MGIC Investment Co. (NYSE:MTG)

Sanctuary Advisors LLC reduced its position in shares of MGIC Investment Co. (NYSE:MTG) by 11.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 133,391 shares of the insurance provider’s stock after selling 17,246 shares during the quarter. Sanctuary Advisors LLC’s holdings in MGIC Investment were worth $3,429,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MTG. State Street Corp lifted its position in MGIC Investment by 0.8% during the third quarter. State Street Corp now owns 9,092,453 shares of the insurance provider’s stock valued at $232,767,000 after purchasing an additional 73,851 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of MGIC Investment by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,621,838 shares of the insurance provider’s stock valued at $41,836,000 after acquiring an additional 98,369 shares during the last quarter. Vest Financial LLC grew its position in MGIC Investment by 33.4% in the fourth quarter. Vest Financial LLC now owns 1,485,140 shares of the insurance provider’s stock worth $35,213,000 after acquiring an additional 371,882 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in MGIC Investment by 1.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 807,485 shares of the insurance provider’s stock worth $19,145,000 after acquiring an additional 9,031 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in MGIC Investment during the third quarter worth approximately $13,535,000. Institutional investors own 95.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MTG shares. Compass Point reaffirmed a “neutral” rating and issued a $27.00 price objective (up from $24.00) on shares of MGIC Investment in a research note on Wednesday, February 5th. Barclays raised their price target 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. Keefe, Bruyette & Woods cut 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 report on Wednesday, January 8th. Bank of America lowered shares of MGIC Investment from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. Finally, Royal Bank of Canada cut their price target on shares of MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.75.

Insider Transactions at MGIC Investment

In other news, CAO Julie K. Sperber sold 4,600 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. This represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.05% of the company’s stock.

MGIC Investment Trading Down 1.9 %

NYSE MTG opened at $23.97 on Friday. MGIC Investment Co. has a 12 month low of $18.98 and a 12 month high of $26.56. The company’s 50-day moving average price is $24.35 and its 200-day moving average price is $24.78. The stock has a market cap of $6.07 billion, a PE ratio of 8.26 and a beta of 1.29. The company has a current ratio of 0.48, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.

MGIC Investment (NYSE:MTG) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. MGIC Investment had a net margin of 63.18% and a return on equity of 14.86%. Equities research analysts forecast that MGIC Investment Co. will post 2.71 earnings per share for the current year.

MGIC Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s dividend payout ratio 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.