MGIC Investment Co. (NYSE:MTG) Shares Sold by KLCM Advisors Inc.

KLCM Advisors Inc. cut its holdings in MGIC Investment Co. (NYSE:MTG) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 142,472 shares of the insurance provider’s stock after selling 2,000 shares during the period. KLCM Advisors Inc. owned 0.05% of MGIC Investment worth $2,748,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Lazard Asset Management LLC acquired a new position in MGIC Investment during the first quarter worth $26,000. Blue Trust Inc. lifted its stake in MGIC Investment by 49.2% during the fourth quarter. Blue Trust Inc. now owns 2,576 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 849 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its stake in MGIC Investment by 374.0% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 3,925 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 3,097 shares in the last quarter. Planned Solutions Inc. acquired a new position in MGIC Investment during the fourth quarter worth $66,000. Finally, USA Financial Formulas acquired a new position in MGIC Investment during the third quarter worth $100,000. 95.58% of the stock is currently owned by institutional investors and hedge funds.

MGIC Investment Stock Down 0.4 %

NYSE:MTG traded down $0.08 during trading hours on Wednesday, hitting $19.50. The company’s stock had a trading volume of 2,819,753 shares, compared to its average volume of 1,912,735. The stock has a market capitalization of $5.26 billion, a P/E ratio of 7.83, a price-to-earnings-growth ratio of 1.61 and a beta of 1.24. The stock has a fifty day moving average of $20.32 and a 200-day moving average of $18.98. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. MGIC Investment Co. has a 52-week low of $13.97 and a 52-week high of $22.43.

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

MGIC Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Thursday, February 15th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.36%. MGIC Investment’s payout ratio is 18.47%.

Wall Street Analyst Weigh In

A number of research analysts have commented on MTG shares. Royal Bank of Canada upped their price target on MGIC Investment from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Roth Mkm increased their price objective on MGIC Investment from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $24.00 price objective (up from $23.50) on shares of MGIC Investment in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.08.

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.