Charles Schwab Investment Management Inc. Reduces Holdings in MGIC Investment Co. (NYSE:MTG)

Charles Schwab Investment Management Inc. reduced its stake in MGIC Investment Co. (NYSE:MTG) by 2.0% during the third quarter, Holdings Channel.com reports. The firm owned 2,624,772 shares of the insurance provider’s stock after selling 53,719 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MGIC Investment were worth $67,194,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc raised its holdings in MGIC Investment by 482.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,142 shares of the insurance provider’s stock valued at $25,000 after buying an additional 946 shares during the last quarter. Hara Capital LLC bought a new stake in MGIC Investment in the 3rd quarter worth $25,000. V Square Quantitative Management LLC purchased a new position in shares of MGIC Investment in the third quarter valued at about $33,000. GAMMA Investing LLC raised its stake in shares of MGIC Investment by 76.2% during the second quarter. GAMMA Investing LLC now owns 3,071 shares of the insurance provider’s stock valued at $66,000 after acquiring an additional 1,328 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of MGIC Investment by 65.5% during the third 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. Hedge funds and other institutional investors own 95.58% of the company’s stock.

MGIC Investment Stock Performance

Shares of MGIC Investment stock opened at $26.11 on Friday. MGIC Investment Co. has a 12 month low of $17.31 and a 12 month high of $26.56. The firm has a market capitalization of $6.62 billion, a P/E ratio of 9.19, a P/E/G ratio of 1.91 and a beta of 1.28. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $25.24 and a two-hundred day simple moving average of $23.66.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.66 by $0.11. MGIC Investment had a net margin of 64.09% and a return on equity of 14.99%. The business had revenue of $306.65 million for the quarter, compared to analyst estimates of $306.03 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. MGIC Investment’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts forecast that MGIC Investment Co. will post 2.81 earnings per share for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Thursday, November 7th. MGIC Investment’s dividend payout ratio (DPR) is presently 18.31%.

Analyst Ratings Changes

A number of research analysts have commented on MTG shares. Roth Mkm upped their price target on MGIC Investment from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada dropped their price target on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Barclays boosted their price objective on shares of MGIC Investment from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Finally, BTIG Research raised their target price on shares of MGIC Investment from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

MGIC Investment 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.