Janney Montgomery Scott LLC trimmed its holdings in shares of MGIC Investment Corp. (NYSE:MTG) by 5.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,310 shares of the insurance provider’s stock after selling 2,793 shares during the period. Janney Montgomery Scott LLC’s holdings in MGIC Investment were worth $645,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in MGIC Investment in the 2nd quarter valued at about $26,000. FNY Investment Advisers LLC bought a new position in shares of MGIC Investment during the 2nd quarter valued at about $80,000. Signaturefd LLC bought a new position in shares of MGIC Investment during the 3rd quarter valued at about $100,000. BBT Capital Management LLC bought a new position in shares of MGIC Investment during the 2nd quarter valued at about $144,000. Finally, TradeLink Capital LLC bought a new position in shares of MGIC Investment during the 2nd quarter valued at about $160,000. 92.71% of the stock is currently owned by institutional investors.

Shares of NYSE:MTG traded down $0.06 during trading hours on Wednesday, hitting $14.09. 22,254 shares of the company’s stock traded hands, compared to its average volume of 3,259,708. MGIC Investment Corp. has a 52 week low of $9.41 and a 52 week high of $14.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. The company’s fifty day simple moving average is $13.40 and its two-hundred day simple moving average is $13.37. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 1.59 and a beta of 1.50.

MGIC Investment (NYSE:MTG) last posted its quarterly earnings data on Tuesday, October 22nd. The insurance provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.05. MGIC Investment had a net margin of 55.08% and a return on equity of 16.61%. The company had revenue of $318.38 million during the quarter, compared to analyst estimates of $299.00 million. During the same period in the prior year, the firm earned $0.48 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts anticipate that MGIC Investment Corp. will post 1.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, November 7th. MGIC Investment’s dividend payout ratio is presently 13.48%.

In other MGIC Investment news, CAO Julie K. Sperber sold 5,535 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $14.05, for a total transaction of $77,766.75. Following the completion of the sale, the chief accounting officer now directly owns 75,747 shares of the company’s stock, valued at $1,064,245.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Patrick Sinks sold 133,213 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $14.04, for a total transaction of $1,870,310.52. Following the sale, the insider now directly owns 1,686,198 shares of the company’s stock, valued at $23,674,219.92. The disclosure for this sale can be found here. Insiders have sold 299,632 shares of company stock valued at $4,190,393 over the last ninety days. Insiders own 0.81% of the company’s stock.

Several equities analysts have recently weighed in on the stock. ValuEngine lowered shares of MGIC Investment from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 5th. B. Riley restated a “buy” rating on shares of MGIC Investment in a research report on Tuesday, October 15th. Zacks Investment Research upgraded shares of MGIC Investment from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Friday, October 11th. Finally, Deutsche Bank raised their price objective on shares of MGIC Investment from $18.00 to $18.50 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. MGIC Investment presently has an average rating of “Buy” and an average target price of $16.13.

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 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.

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Institutional Ownership by Quarter for MGIC Investment (NYSE:MTG)

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