Oregon Public Employees Retirement Fund Lowers Holdings in MGIC Investment Co. (NYSE:MTG)

Oregon Public Employees Retirement Fund decreased its stake in shares of MGIC Investment Co. (NYSE:MTG) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,591 shares of the insurance provider’s stock after selling 897 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in MGIC Investment were worth $1,223,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MTG. Hara Capital LLC purchased a new position in MGIC Investment during the third quarter valued at $25,000. UMB Bank n.a. increased its holdings in shares of MGIC Investment by 131.9% in the 4th quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 938 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of MGIC Investment by 102.1% in the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 918 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of MGIC Investment by 61.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 794 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of MGIC Investment in the 3rd quarter worth $69,000. Hedge funds and other institutional investors own 95.58% of the company’s stock.

Insider Buying and Selling at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of the business’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 owns 75,070 shares of the company’s stock, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.05% of the stock is currently owned by corporate insiders.

MGIC Investment Stock Performance

Shares of MTG opened at $24.58 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.48 and a quick ratio of 1.25. MGIC Investment Co. has a one year low of $19.26 and a one year high of $26.56. The firm has a market capitalization of $6.23 billion, a P/E ratio of 8.47 and a beta of 1.29. The business has a fifty day moving average of $24.37 and a 200 day moving average of $24.82.

MGIC Investment (NYSE:MTG) last issued its quarterly earnings data on Monday, February 3rd. The insurance provider reported $0.72 EPS for the quarter, topping 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, sell-side analysts anticipate that MGIC Investment Co. 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 Wednesday, March 5th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.12%. The ex-dividend date is Tuesday, February 18th. MGIC Investment’s dividend payout ratio is presently 17.93%.

Analysts Set New Price Targets

A number of analysts have commented on MTG shares. UBS Group lifted their target price on MGIC Investment from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Barclays lifted their target price on MGIC Investment from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Royal Bank of Canada reduced their target price on MGIC Investment from $28.00 to $27.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Bank of America lowered MGIC Investment from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods cut their price objective on MGIC Investment from $29.00 to $28.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. One investment 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 a consensus rating of “Hold” and a consensus price target of $26.75.

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.