Leeward Investments LLC MA Sells 5,350 Shares of MGIC Investment Co. (NYSE:MTG)

Leeward Investments LLC MA reduced its stake in MGIC Investment Co. (NYSE:MTG) by 0.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 689,581 shares of the insurance provider’s stock after selling 5,350 shares during the quarter. Leeward Investments LLC MA’s holdings in MGIC Investment were worth $13,302,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Impact Partnership Wealth LLC purchased a new stake in MGIC Investment in the 3rd quarter worth $121,000. Exchange Traded Concepts LLC bought a new stake in MGIC Investment in the third quarter worth about $1,474,000. Measured Wealth Private Client Group LLC lifted its stake in MGIC Investment by 3.7% in the third quarter. Measured Wealth Private Client Group LLC now owns 55,717 shares of the insurance provider’s stock worth $930,000 after purchasing an additional 2,012 shares during the last quarter. Oak Thistle LLC bought a new stake in MGIC Investment in the third quarter worth about $238,000. Finally, Asset Management One Co. Ltd. bought a new stake in shares of MGIC Investment during the third quarter valued at approximately $650,000. 95.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

MGIC Investment Price Performance

NYSE MTG opened at $20.48 on Friday. The firm’s fifty day simple moving average is $20.45 and its two-hundred day simple moving average is $19.13. 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 12-month low of $13.97 and a 12-month high of $22.43. The firm has a market capitalization of $5.52 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.68 and a beta of 1.24.

MGIC Investment (NYSE:MTG) last announced its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $0.67 earnings per share 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 analyst estimates of $302.96 million. MGIC Investment had a net margin of 61.72% and a return on equity of 14.82%. Analysts forecast that MGIC Investment Co. will post 2.43 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, May 8th. MGIC Investment’s dividend payout ratio (DPR) is presently 18.47%.

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.